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alternative Assets News: Spanish Real Estate Intelligence

US Firm Valeo Groupe Wants to Build 20,000 Beds in Student Halls in Spain

US Firm Valeo Groupe Wants to Build 20,000 Beds in Student Halls in Spain

11 June 2019 - Cinco Días

After teaming up with Bankinter to invest in Spain last year, the US firm Valeo Groupe has now announced that it wants to become the market leader in the student residence sector. According to its CEO for Europe, Peter Haspel, “Our objective in Spain is to reach 20,000 beds”.

The firm does not have a detailed timeframe at this stage but its target would make it the market leader or one of the largest players in the country, alongside Resa, which currently has 10,000 beds, and Nexo Residencias, which is growing rapidly. Haspel considers that Spain has the capacity for 500,000 beds compared with the existing supply of 98,000.

The company has already designed a first investment plan amounting to between €300 million and €400 million to build 10 halls of residence in Spain and Portugal over the next two or three years.

It has already started work on a project in Granada and is about to launch one in Porto. They will be followed by new halls in other major cities such as Madrid, Barcelona, Lisbon, Valencia, Sevilla and Bilbao.

Original story: Cinco Días (by Alfonso Simón Ruiz)

Translation/Summary: Carmel Drake

 
Agartha Real Estate Socimi to Debut on the Euronext Access in July

Agartha Real Estate Socimi to Debut on the Euronext Access in July

4 June 2019 - Eje Prime

Agartha Real Estate Socimi is getting ready to make its debut on the Euronext Access platform in July, with an estimated valuation of €28 million.

The co-working and co-living specialist will make its debut with a portfolio of three flexible office spaces in Madrid, located on Calle Piamonte, 23, Calle Serrano Anguita, 13 and Calle Javier Ferrero, 10.

The company is owned by the Venezuelan businessman Miguel Ángel Capriles, a relative of the opposition leader Henrique Capriles and director of Abanca.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

 
Investment Funds Seek Land for Student Residences in Sevilla, Málaga & Granada

Investment Funds Seek Land for Student Residences in Sevilla, Málaga & Granada
13 May 2019 - ABC de Sevilla According to CBRE Spain, many investment funds are searching for land in Sevilla, Málaga and Granada on which to build new halls of residence for students. Ideally, they want plots that are located close to the university campuses or in well-connected areas of those cities. Specialist student residence companies are also in the market for land, such as the company Syllabus by Urbania, which is actively looking for new plots in Sevilla and Granada. The British firm Amro is already working on two projects, in Granada and Sevilla, and is now searching for land in Málaga, as well as in Salamanca, Alicante, Bilbao and Barcelona. Similarly, Greystar, which is building a 322-bed hall of residence in Málaga, also wants to expand its footprint in Sevilla and Granada. Lack of beds for students In Spain, there are 1.5 million students, of which around 600,000 do not live in their home towns or cities. Nevertheless, there are less than 100,000 beds available for students and they are primarily located in Madrid, Barcelona, Salamanca, Granada, Valencia, Málaga and Sevilla. Moreover, most of the existing supply is obsolete. The need to expand and renew the stock is clear. Original story: ABC de Sevilla (by María Jesús Pereira) Translation: Carmel Drake
 
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