• The two disposals, comprising more than 550 student beds in western Paris, reflect Assembly and Eternam’s strategy of repositioning under-utilised urban assets into best-in-class real estate
• The sale marks another successful step in their development and asset-rotation strategy as they continue to expand across Europe

Assembly, the pan-European development platform of investment manager MARK, and Eternam, the French real estate investment manager, have sold two obsolete office buildings in Issy-les-Moulineaux and Boulogne-Billancourt to the joint venture formed by Invesco Real Estate, DeA Capital RE and Banque des Territoires, which is dedicated to student housing. The buildings were acquired in 2025 with a view to conversion.

Well located in western Paris, close to major university campuses and the area’s main office hubs, the assets will be converted into student residences operated by Camplus, creating around 550 new beds. The sale reaffirms Assembly and Eternam’s strategy of repositioning under-utilised urban assets before passing them to long-term institutional investors.

In Issy-les-Moulineaux (41-43 rue Camille Desmoulins and 8 rue Rouget de l’Isle, designed by Quadri Fiore), the existing building will be demolished and rebuilt, delivering approximately 7,000 sqm and 314 student beds. In Boulogne-Billancourt (62 rue Louis Blériot, designed by Baumschlager), the building will be restructured to deliver approximately 5,000 sqm and 232 beds. Each residence will include ground-floor retail space. Both will open for the 2028 academic year and are targeting NF Habitat HQE Excellent certification (7-star level).