Bank of Ireland marks 10-year partnership with GSA with €81 million refinance of Dublin student scheme

• Bank’s student housing funding tops €700m sector-wide, supporting 7,000 beds

13 October 2025 – Bank of Ireland has successfully completed an €81 million refinance of the 601-bed Kavanagh Court student accommodation scheme in Dublin 1, further strengthening its long-standing relationship with Global Student Accommodation (GSA), the global leader in student accommodation.

GSA invests in, develops, and asset manages purpose-built student accommodation (PBSA) in 11 countries across Europe, North America, and the Asia-Pacific (APAC) region. The company entered the Irish market in 2015, with Bank of Ireland financing its first development – a 400-bed scheme at New Mill in Dublin 8.

Over the past decade, the partnership has supported GSA’s expansion in Ireland, with GSA’s portfolio now comprising approximately 4,000 student beds across Dublin and Cork.

Bank of Ireland is a leading funder of PBSA in Ireland, with over €700 million in finance now supporting the development and operation of over 7,000 student beds across the country. The Bank’s continued investment in the sector plays a vital role in delivering much-needed student housing, a key component of Ireland’s social infrastructure. By increasing the availability of dedicated student accommodation, the Bank’s support also helps to alleviate pressure on the broader residential housing market.

Brian Gaffney, Head of Residential and Development Finance, Bank of Ireland, said:

“This latest transaction marks ten years of partnership with GSA and reflects our continued commitment to the student accommodation sector. Purpose-built student housing plays a vital role in easing pressure on the wider residential market, while also supporting Ireland’s third-level education system – a key pillar of national competitiveness.

Bank of Ireland is looking ahead with a strong appetite to expand our support, working with partners like GSA to deliver new developments that help meet the growing demand for student beds.”

John Jacobs, Global Head of Capital Markets at GSA, said:

“Bank of Ireland have been a great supporter of GSA since we entered the Irish market a decade ago. Their commitment and confidence in our vision have been instrumental in helping us establish ourselves as the largest owner of purpose-built student accommodation in Ireland. Together, we’ve been able to deliver high-quality, much-needed housing for students in the country, and we look forward to continuing this successful relationship.”