GSA Buys a Student Hall of Residence in Madrid for €50M

8 January 2020 – Expansión

The British student accommodation specialist Global Student Accommodation (GSA) has purchased a hall of residence in Madrid from Corestate for more than €50 million.

The Luxembourg-based fund purchased the asset at the end of 2016 and has since converted it into a modern residence with more than 300 beds. The property is located on Paseo de Juan XXIII in the Ciudad Universitaria area of Madrid and operates under the Youniq brand.

Currently, there are more than 90,000 beds in student halls in Spain, although that figure is expected to rise by 16,500 over the next four years with the addition of 47 new halls of residence.

Original story: Expansión (by Rebeca Arroyo)

Translation/Summary: Carmel Drake

Temprano Capital Partners Acquires a New Site for a Student Residence in Madrid

17 June 2019 – Press Release

The new project, which forms part of the Temprano Student Living (TSL) initiative, will provide 10,000 m2 of premium accommodation for more than 400 students. This project represents Temprano Capital Partners first scheme in Madrid and its eleventh Student Residence development in the Iberian Peninsula.

Temprano Capital Partners has just acquired a new site in Getafe, Madrid. It is the firm’s first student residence project to be developed in Spain’s capital and the eleventh in Temprano Student Living (TSL) Iberian’s  pipeline.

The first TSL project to complete was TSL Marques de Pombal in Lisbon, which opened its doors to students in January 2018 and won the award for “Best in Class for Property Innovation and Sustainability at the Class” given by The Class of 2020 annual awards for its good work in innovation and sustainability.

By adding this new student residence in Madrid, TSL will increase the number of beds in its portfolio to more than 4,000. The city of Madrid has the largest number of students in Spain followed by Barcelona, Valencia and Bilbao, respectively. More than 300,000 students are enrolled in the region in the 2018-2019 academic year, of which 196,400 attend public universities with the remainder at various private educational institutions around Madrid.

The large student population in Madrid includes a large contingency from other regions of Spain (approximately 80,000 according to internal research) and approximately 24,000 international students principally Europeans and from the Americas.

The recently acquired site is located at Calle Ramón Rubial 37, Getafe, which is an 8-minute walk from the main campus of the Carlos III University and a 10-minute walk from the railway station Las Margaritas Universidad.

It is envisaged that the student residence will provide some 400 beds in a combination of cluster, studio and twin room configurations, within a building spanning just over 10,000 m2. The residence will provide other services and amenities, such as a gymnasium, lounge club area, audio visual / cinema rooms, library, study rooms and areas created for group work, dinner party rooms and onsite catering and restaurant facilities. The residence will offer rentals to be fully inclusive with 24/7 concierge service. Rooms will provide kitchens, individual bathrooms, Smart TVs, in addition to desks for in room study needs. High speed Wi-Fi will be provided throughout the project.

Original story: Press Release

Edited by: Carmel Drake

Greystar Invests €200M in Student Halls in Spain & Diversifies into Rental Housing

9 April 2019 – Eje Prime

Greystar is planning to invest €200 million in halls of residences for students in Spain over the next two or three years, and is also seeking to diversify into the management of rental homes.

In the student hall sector, the US firm wants to invest €200 million in the creation of 2,000 beds by 2022 and expand its presence from Madrid, Barcelona and Málaga, to other student towns.

Meanwhile, in the rental home sector, the US company already operates in ten countries around the world, where it administers more than 500,000 homes. In Spain, it plans to launch this business before the end of 2019.

Greystar specialises in the market for multi-family accommodation and halls of residence for students. The company manages 118,500 student beds around the world, of which 50,000 are in Europe.

Original story: Eje Prime (by Milana Mishchenko)

Translation/Summary: Carmel Drake

Xior Buys Campus Diagonal Hall of Residence from Life for €25M

13 March 2019 – Idealista

The Belgian student hall operator Xior has reached an agreement with Life, the firm specialising in the development of rental assets, to take control of the UPC Campus Diagonal-Besòs hall of residence project. The deal still needs to be approved by the Town Hall of Barcelona and has involved an investment of more than €25 million.

Once completed, the hall of residence will have a surface area of 6,000 m2, distributed over eight floors, with capacity for 300 beds. Life has invested €14 million in the project, which has a land concession for the next 50 years (until 2067) and which is expected to open in time for the 2019-2020 academic year.

The building will be equipped with common areas, such as a music room, a gym, a cafeteria, a restaurant and bicycle parking. It will have plenty of natural light, be surrounded by garden areas and it will have a swimming pool.

Original story: Idealista (by Custodio Pareja)

Translation: Carmel Drake

Urbania to Open a Hall of Residence for Students in Pamplona

18 February 2019 – Expansión

Urbania is increasing its commitment to halls of residence for students. The real estate firm, through its subsidiary Syllabus, is planning to open a new accommodation block for university students in Pamplona, with 300 rooms and an investment of €17 million. This hall of residence in Pamplona will be added to the group’s other projects in Madrid, Málaga and Valencia. Moreover, the group is analysing new opportunities.

The hall of residence in Pamplona will occupy a plot with a surface area of 8,837 m2. Construction will commence in 2019 and is expected to be completed in 2021. This accommodation is going to be constructed in the area near to the El Sadar stadium, a stone’s throw from the Universidad Pública de Navarra and its sports facilities, the Uned campus and less than 2km away from the Universidad de Navarra campus.

The new hall of residence will comprise six storeys and will have an extensive green area inside. As well as the 300 rooms, it will have several shared kitchens, spaces for study, a gym, a cinema area, a coworking space, leisure areas and a laundry (…).

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

Amro Buys Sevillan Development in Iberian Roll-out

25 January 2019 – EGI

London-based investor Amro Real Estate Partners has bought a site in Sevilla, marking its second acquisition within its student housing platform in Spain and Portugal.

The deal forms part of the company’s strategy to create a 5,000-bed investment platform in the region.

Last year, Amro appointed CBRE to search for a student housing joint venture partner to undertake a €300m (£261m) capital investment in its Iberian expansion.

At the same time, it invested in a 360-bed student housing development site in Granada, which will launch in early 2020.

The site in Sevilla measures around 100,000 square metres (…).

Original story: EGI (by Pui-Guan Man)

Edited by: Carmel Drake

Student Properties to Promote a New Hall of Residence in the South of Spain

25 January 2019 – Eje Prime

Student Properties is continuing to grow its portfolio. The company has approved a series of measures at an Extraordinary Shareholders’ Meeting to undertake the development of a new hall of residence in the south of Spain, according to a statement filed by the company with the Alternative Investment Market (MAB).

The company has approved the incorporation of a property dedicated to student halls, which will be promoted in a town in the south of Spain.

It has also approved to submit “a capital increase through a non-monetary contribution, through which the company will become the sole shareholder of the company that owns the property through the exchange of shares in the company for shares in the company that owns the property” to a future General Shareholders’ Meeting.

The company, which specialises in the acquisition and management of halls of residence for students, is owned by: Altamar Capital Partners, which deals with the global management of alternative assets; Amira Real Estate, which specialises in the management of real estate assets and investments; and Elcano Servicios Patrimoniales, which specialises in the provision of real estate services.

Original story: Eje Prime

Translation: Carmel Drake

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

Henderson Park Acquires Gran Vía 43 in Madrid

23 October 2018 – Eje Prime

The European real estate fund Henderson Park is expanding its portfolio of assets in Madrid. The group has acquired number 43 Gran Vía in Madrid, an asset located in the centre of the Spanish capital, which combines office space and commercial premises, from Mutualidad General de la Abogacía, the Spanish insurance company for lawyers.

For the acquisition operation, Henderson Park has obtained senior financing amounting for €39 million from La Caixa, according to explanations provided by the company. The building, which spans 7,347 m2, comprises 11 floors – the lower two are dedicated to commercial space and the rest to offices. Currently, the asset is leased to seven tenants.

This is Henderson Park’s third acquisition in Spain, and its second in Madrid, following the purchase of the Los Cubos office building in 2017. and of a plot of land in the 22@ district of Barcelona the same year, for the construction of a hall of residence for students that will comprise 750 rooms.

Original story: Eje Prime

Translation: Carmel Drake

Metrovacesa Receives Green Light to Build Madrid’s ‘Medicine City’

3 October 2018 – Eje Prime

Metrovacesa has received the green light to start work on the construction of ‘medicine city’ in Madrid. The Town Hall, led by Manuela Carmena, and the property developer have reached a definitive agreement to start work on a large complex to be dedicated to tertiary use in the north of the Spanish capital.

Specifically, the building work will be carried out in the vicinity of the Ramón y Cajal Hospital. The industrial plot measuring almost 44,000 m2 and owned by Metrovacesa, will be used to build commercial facilities and accommodation, according to reports published by El Confidencial.

The new complex will serve the neighbourhood and users of the Ramón y Cajal Hospital. The agreement between the Town Hall and Metrovacesa also covers the protection of the milk group Clesa’s old factory, a property considered important due to its industrial architecture and in whose honour the operation has been named. That installation occupies more than 10,400 m2.

Of the remaining space, 22,900 m2 will be allocated to accommodation, including a hotel and rental apartments for the exclusive use of users of the hospital. Another 19,800 m2 will be dedicated to a student hall of residence, in particular, to accommodate students of the MIR and other doctors visiting the centre. Finally, 3,000 m2 of space has been reserved for commercial use.

The initiative began in 2014, when the real estate company asked for a licence to demolish the Clesa factory, with the idea of building a residential complex. Nevertheless, the Town Hall of Madrid did not approve that change in classification of the land from industrial to residential.

With the arrival of Manuela Carmena to the Town Hall of Madrid, negotiations began to redesign the project. In this way, the recovery of a historical building is promoted and the Ramón y Cajal Hospital will become an important health pillar, according to a statement issued by the Town Hall of Madrid.

Original story: Eje Prime 

Translation: Carmel Drake