Momento Capital has announced the closing of the transaction through which Mata Capital IM has taken a majority stake in Roof, the French purpose-built student accommodation (PBSA) operator.
Momento worked alongside Mata throughout the acquisition process and will act as its operating partner, overseeing the end-to-end deployment – from sourcing and investment execution to development and operations – with the goal of building a best-in-class integrated PropCo/OpCo student housing platform.
“We are proud to have worked alongside Mata Capital on this acquisition and to oversee the rollout of the platform. This partnership underscores our commitment, as operating partner, to delivering integrated solutions for institutional investors across the full investment lifecycle – from investment and development to operations – and to positioning ourselves as a reference player in the student housing sector. We look forward to building this platform together with Mata and Roof.”
Edoardo Volpi, Partner, Momento Capital
The venture objective is to deploy up to €150m over the medium term to acquire, refurbish and operate over 1,000 bedrooms in prime university locations. To date, an initial €20m equity and around €50m (including debt) have already been committed for the first assets.
Roof’s model entails converting existing buildings into community-oriented residences that offer generous shared spaces – coworking areas, a gym, communal kitchens, cinema rooms and 24/7 services to support students’ wellbeing.
This strategic partnership is driven by a shared vision to provide a scalable, concrete solution to the student housing shortage, addressing structural supply constraints and the need for accommodation that truly meets students’ expectations for quality, services and community life.
“This partnership marks a key step in our student housing strategy. With Momento Capital as operating partner, we gain a trusted team with extensive sector expertise and a strong execution track record.
“The combination of Momento’s know-how in student housing investment and asset management, Mata’s structuring and capital deployment capabilities, and Roof’s proven operational model enables the creation of a high-performing, scalable platform that meets the expectations of institutional investors and the growing needs of students.”
Thomas de Ridder, Managing Director, Mata Capital IM
By combining Momento’s end-to-end investment and asset management expertise in the student housing sector, Mata’s structuring and capital deployment capabilities, and Roof’s proven operational model and product vision, the partners aim to deliver a scalable, high-performing student housing platform tailored to both investor expectations and evolving student needs.
“Momento’s involvement was extremely valuable in finalising this partnership with Mata Capital. This new phase marks a significant milestone in our growth and consolidation process. With Mata Capital on board and Momento’s expertise, we will have greater control over the entire value chain and be able to maximise the performance.”
Nicolas Leroy, CEO, Roof
