In conversation with Pieter Feenstra
FEENSTRA GROUP
Feenstra Group’s strategy has consistently leaned into sectors that are resilient through economic cycles and address core social issues.
on our door one day and said, ‘’Look, we’ll support you.’” The bet paid off as students came and took up beds. Since then, the PBSA model has proven to be successful. From that single, stressful project, the Feenstra Group has grown its student accommodation portfolio to about 5,000 beds and then placed that into a fund with Growthpoint and other institutional investors. The total number of beds now stands at 12,000 beds, making it one of the largest operators in the country. For Feenstra, the product is about more than just a bed. It’s about building
Studios, was a 1,000-bed development that required immense conviction. “It was very difficult to get funding for the development. Banks were not willing to offer millions of rands for a building, which had no rental income guarantee, there were no leases, there was nothing,” he remembers. The banks, conservative and unfamiliar with the PBSA model, were sceptical. “You have to go through an education process with them to explain the model.” The breakthrough came from an international bank that understood the UK PBSA model. “They knocked
Riverside student accommodation in Sunnyside, Pretoria
a community. “The management around it is critical because you’re not managing the building, you’re really managing a life. You’re managing a community,” he emphasises. The group runs extensive student life programmes encompassing sports, cultural activities, academic support and well-being. “It’s more than just offering a bed to rent. That’s a key element of our property offering.”
A principled approach: investing in impact Feenstra Group’s strategy has consistently leaned into sectors that are resilient through economic cycles and address core social issues. Beyond student accommodation, the group has built a significant portfolio of about 5,000 affordable inner-city rental units, based in Pretoria CBD. “We don’t deal at the
Thabo Sehume affordable accommodation in Pretoria
October 2025 | Issue 141 | Asset Magazine 137
136 Asset Magazine | Issue 141 | October 2025
Made with FlippingBook Ebook Creator