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Van Doorne advises Rockfield and Ardian on largest PBSA deal in the Netherlands

2 May 2025

Van Doorne has assisted Rockfield Real Estate and Ardian in the acquisition of the Minervahaven student accommodation complex in Amsterdam. With a transaction value of €113 million and a total of 596 studios, this is the largest PBSA (Purpose Built Student Accommodation) transaction ever in the Netherlands in terms of gross asset value.

Minervahaven, located in the Houthavens, was developed in 2020 and is managed by Student Experience. The complex offers high-quality amenities such as a gym, cinema, communal workspaces, a roof terrace and a green courtyard garden. All studios are fully furnished and equipped with their own kitchen and bathroom. The popularity of the complex is evident from the fact that the properties were fully let within two days of publication for the 2024/25 academic year.

The complex has been recognised by The Class Foundation as the most sustainable PBSA project in Europe and has BREEAM Excellent in Use certification. These sustainability features fit seamlessly with Rockfield and Ardian’s strategy of investing in high-quality, future-proof housing for students and young professionals.

Van Doorne acted as legal advisor to Rockfield and Ardian. The teams led by Jordie Bakker, Daan Horsthuis, Annerie Ploumen, Jelmer Baukema and Elisabeth Thole jointly applied their expertise to bring this complex and strategically important transaction to a successful conclusion.

We are proud to have assisted Rockfield and Ardian in this milestone in the Dutch real estate market,’ said the Van Doorne team. ’This transaction underlines our strong position in advising on large international investments in the housing market, with a focus on quality and sustainability.’

In addition to Van Doorne, Linklaters, MC2 and PwC also acted as advisors to the buyers. The seller, Rinkelberg Capital, received legal advice from Loyens & Loeff and financial advice from Van Lanschot Kempen.

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Van Doorne advises Rockfield and Ardian on largest PBSA deal in the Netherlands