Investment fund management company 1 Asset Management continues to expand its investment directions and is launching a student housing strategy in Canada. Together with local partner Elysium Investments, the company is starting the development of a CAD 73 million (approximately EUR 46 million) project in the city of Guelph – one of the country’s most important and fastest-growing academic centres.

The project will be developed in a strategically attractive location next to the University of Guelph. Construction is planned to begin in 2026, with completion expected in 2028.

The investment into this project will be made through a 1 Asset Management Luxembourg AIFM. “This investment represents the consistent implementation of our strategy to invest in segments characterised by stable demand and long-term growth trends, while also providing investors with access to lesser-known markets and unique projects, thus creating opportunities to diversify investment portfolios,” says Alius Jakubėlis, CEO of 1 Asset Management.

The project is being developed in cooperation with Canadian real estate development company Elysium Investments, which specialises in residential and mixed-use developments. The company manages the entire development cycle – from land acquisition and design to construction and asset management – and has already completed multiple projects in the Canadian market.

The development will consist of modern student housing operating under the Yarra brand. The Yarra student housing concept is based on the principle that student accommodation should be more than just a place to live – it should be an environment that fosters social connections, academic productivity, and personal growth.

The project, covering more than 15,000 square metres, is expected to provide approximately 430 beds. Significant attention will be given to shared spaces, including study rooms, co-working areas, sports and leisure infrastructure. Commercial premises on the ground floors will help integrate the development with the surrounding urban infrastructure. The project will also incorporate technological solutions such as smart building management systems and modern security solutions.

Located around 100 km west of Toronto, the city of Guelph stands out as one of the fastest-growing student centres in Ontario, with a population of more than 130,000 and a strong local economy. The University of Guelph has approximately 29,500 students, while the total housing supply amounts to around 16,900 beds, significantly lagging behind demand, with the market currently facing a shortage of approximately 12,600 beds (around 42.7%).

Demand is being further driven by the growing number of students – in 2024 alone, 7,849 first-year students were admitted, while more than 1,300 were unable to secure university housing. At the same time, the Guelph rental market remains extremely tight, with vacancy rates below 1%, while the average rent for a one-bedroom apartment has increased by 11% over the past three years to approximately CAD 2,039 (around EUR 1,400), clearly demonstrating the structural shortage of quality student housing and strong investment demand in this segment.

“We see a very clear imbalance between the growth in student numbers and the capacity of existing infrastructure, and this imbalance will only continue to increase in the coming years. In markets such as Guelph, student housing is becoming not only an attractive investment opportunity, but also essential infrastructure that ensures access to and quality of education,” says Gediminas Vilutis, manager of the Canadian student housing fund.

“This is already our second investment in Canada. Student housing is one of the most resilient real estate segments, characterised by stable cash flows and clear demographic trends. We see significant potential for further growth in this segment, drawing both on the experience we have accumulated in Europe and on partnerships with strong local market participants,” says Alius Jakubėlis.

1 Asset Management began investing in modern student housing in 2020 and currently manages a portfolio of 2,721 beds across Lithuania, Latvia, and Poland through the 1AM European Student Housing Fund and the CEE Student Housing Fund. After opening two new student housing properties in Warsaw last year, the company became one of the three largest developers of modern student housing in Poland by number of beds. In addition, in 2024 the company, together with Lithuanian investors, invested CAD 15 million (approximately EUR 10 million) into student housing projects in Toronto, Ottawa, and Guelph, consistently strengthening its position in this segment within the North American market.

About 1 Asset Management

1 Asset Management is a licensed investment fund management company regulated by the Bank of Lithuania. The company provides services to institutional and private investors, focusing on niche asset classes and value creation strategies. The company invests in modern student housing, historic and airport hotels, veterinary clinics, forests, education infrastructure, private debt in Central and Eastern Europe, and large-cap companies listed on US stock exchanges. The value of assets under management currently exceeds approximately EUR 750 million, while the number of investors exceeds 420. In 2025, the company expanded internationally by establishing a presence in Luxembourg through the acquisition of a local management company. This expansion created opportunities to develop more flexible fund structures, access global investment opportunities, and strengthen partnerships with international investors.