The fund bought the property from joint venture partners, Crosslane Capital and Bauer Capital, which have identified a number of other investment opportunities in Germany in response to the undersupply of student accommodation in the country.
The Victus fund was established to invest in a blend of mature existing properties and new developments in major university cities across Europe.
The Oldenburg purpose-built student accommodation property is fully let and will undergo a rolling refurbishment programme. This will include redecoration, new flooring, kitchen and bathroom replacements and new furniture. The property comprises 178 units, with 164 single cluster rooms, 13 studios and a two-bedroom apartment.
Andrew Jamieson, director of European acquisitions and development at Crosslane Fund Managers, said: "The student accommodation market in mainland Europe is thought to be 10-15 years behind the UK, and nearly 80% of German students are not accommodated in student halls but rent in the private housing market or remain at home instead."
He added that in Oldenburg alone, there were only 1,600 beds serving 14,000 students.
The target annual return of the fund is 10-12% pa.
