During the first phase of the project the old administrative complex was adapted for living and 150 rooms were offered to the market. Rooms include facilities like integrated kitchenettes, individual toilets, shower rooms, furniture and household equipment. The essence of the concept is to offer students the lively co-living environment that lets to connect and also allows for privacy when it’s needed.
During the second phase, by the beginning of the 2019 academic year, additional spaces were added to the location and currently there are 267 rooms in the facility.
The acquisition of “Solo Society” was the first step in the development of a “IAM Student Housing Fund” portfolio of modern student co-living spaces managed by “I Asset Management”. The idea of investing in student housing was developed together with entrepreneur and investor Marius Jakulis Jason in order to invest in the improvement of educational infrastructure in the Baltic and CRE region.
The target size of the fund is EUR 155,000,000. In addition to the facility in Kaunas, student houses are already operating in Vilnius and Riga, and a new modern co-living space is under construction in Krakow.
The development of student houses corresponds to Orion Wealth’s strategic decision to work with investment projects related to the development of educational infrastructure in Lithuania and abroad. This project is attractive to investors both because of target returns and because of the socially responsible aspect of the project, its contribution to the creation of public welfare.
Manager and partner