• Transaction / Assets
    Villa Universitaria hall of residence
  • Seller
  • Buyer
    Grupo El Castillo
  • € MM

Grupo El Castillo Buys the ‘Villa Universitaria’ Hall of Residence in Alicante for €19.7M

17 December 2018 – Eje Prime

The Villa Universitaria hall of residence in Alicante has been awarded to Grupo El Castillo. The Alicante-based company has won the bid for this university complex with an offer amounting to €19.7 million. The Valencian consultancy firm VEO Comunicación has also participated in the process.

The asset has a surface area of 17,000 m2 and contains 400 rooms. It is the largest hall of residence for students in Alicante and it was initially valued at €19.6 million, according to reports from Expansión.

After three years on the market and initial offers that barely amounted to €8 million, the property was owned by the Santa Anna real estate group, a company that filed for liquidation in 2016, and from which a portfolio of 450 properties was auctioned in November for €32 million.

In the first public sales process to be conducted online, closed without success, the parties interested in Villa Universitaria included Sabadell, Sareb and the Reciprocal Guarantee Company of the Community of Valencia.

Original story: Eje Prime 

Translation: Carmel Drake