Navigating divergence in Europe’s student housing market
“At one end are cities where student demand remains robust, supply is constrained, and PBSA operates as a core, income-generating asset.”
“These markets continue to offer long-term stability and meet institutional return thresholds.”
In Investment & Pensions Europe (IPE) Real Deals, Sky Mapson, Senior Director of Origination at Arrow Global, examines how Europe’s student housing market is entering a more selective phase of its evolution. He explores the growing divergence in PBSA performance across cities, driven by differences in university quality, supply dynamics, and operator capability, and argues that the sector can no longer be viewed as homogenous.
Drawing on lending activity across the UK and Europe, Sky highlights why disciplined underwriting, operational excellence, and location-specific insight are becoming central to risk-adjusted returns, as institutional investors adapt to a more mature and segmented PBSA landscape.
Read the full article here
Sky Mapson
Senior Director, Origination (UK)
After graduating from Royal Holloway University of London in 2009, Sky began his career at RBS Global Banking and Markets, where he worked as an analyst in fixed income sales. His role involved modelling and managing interest rate and inflation risk for UK public sector treasury bodies, as well as structuring asset and liability matching solutions for pension schemes. His experience at RBS, particularly in debt and derivative restructuring, sparked an interest in alternative funding, leading him to join Maslow Capital in June 2012.
With over 12 years at Maslow Capital, Sky brings a wealth of experience in development finance, specialising in PBSA and regional residential schemes. He is widely regarded as a leading specialist in PBSA, using his deep market knowledge to support clients in structuring and executing complex funding solutions. As a key member of the origination team, Sky is responsible for sourcing and structuring new lending transactions, ensuring that Maslow continues to provide market-leading financing solutions to developers.