Tag: student residences

Temprano Inaugurates Student Residence in Barcelona

28 October 2019 – Temprano inaugurated a new student residence in Barcelona last month, its first foray into that market in Spain. The residence is located next to the Finestrelles shopping centre, in Esplugues de Llobregat.

The residence, which is operated by the firm Livensa Living, has 10,500 square meters of space and 372 rooms, including singles and doubles. The rooms, which have between 19 and 39 square meters of surface area, each have a kitchen and a private bathroom.

The property has common areas, including a swimming pool, gym, sauna, library, audio-visual room and a games room.

Original Story: Eje Prime – M. V. O.

Adaptation/Translation: Richard D. K. Turner

Syllabus and Invesco Developing Nine Student Residences in Spain and Portugal

21 October 2019 – Urbania’s subsidiary Syllabus, which signed an agreement with Invesco at the beginning of the year, currently has projects for nine student residences underway in Spain and Portugal.

In total, the firm’s investments will add 3,000 beds to its portfolio, in addition to the 2,500 it had already planned to build by 2021. The total investment in the nine projects in Spain and Porto is forecast to exceed €150 million.

The company is planning or building two student residences in Madrid and one each in Valencia, Malaga, Pamplona, ​​Seville, Salamanca and Porto in addition to other investments the firm has yet to disclose.

The projects are part of a collaboration agreement Syllabus signed with Invesco at the beginning of the year. The two firms agreed to invest 250 million euros over five years in student residences in Spain.

Original Story: Eje Prime – Marc Vidal Ordeig

Adaptation/Translation: Richard D. K. Turner

Catella Launches CESHF II, A New Fund Student Residence Fund

21 September 2019 – Catella Asset Management Iberia has launched a second fund, Catella European Student Housing Fund II (CESHF II), specialising in student residences. The fund, which already has 100 million euros in its war chest, expects to raise up to €250 million over the next two years. CESHF II will invest in university cities with the potential for growth in Germany, Austria, France, the Netherlands, Belgium, Luxembourg and Spain, along with possible investments in the United Kingdom, Denmark, Portugal and Poland. The fund is aiming for broad diversification and a total of around 20 assets.

The new fund’s first acquisition was a 208-flat student residence in the German city of Mannheim. The building can accommodate up to 313 students and was recently built in a newly-developed area of ​​the city, Franklin Areal.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Savills Aguirre Newman Suggests that Málaga Must Double Its Supply of Student Housing

29 August 2019

Málaga currently has 1,200 places for non-residential students, according to Savills Aguirre Newman. The consultancy believes that the city needs to double that figure. At the moment, developers are working on six new projects, with a total of 900 new places, to be ready by 2022.

The University of Malaga has around 35,000 students, including full-time and part-time, and many of them come from other parts of Spain or even abroad. The recent long-term increase in residential rates is beginning to deter some people from carrying out their studies in the city.

Original Story: La Opinión de Málaga – José Antonio Sau

Adaptation/Translation: Richard D. K. Turner

Corestate to Invest €25 Million to Build New Student Residence in Salamanca

20 July 2019 – Richard D. K. Turner

Corestate Capital Holding, an investment fund based in Luxembourg, will invest 25 million euros to develop a student residence on Calle Santiago Diego Madrazo, next to the University of Salamanca.

The property will have a net leasable area of 4,000 square meters, including 258 flats and 301 beds. The building will also have several common areas such as a TV room, gym and terrace, along with 74 parking spaces.

Original Story: Eje Prime – Marta Casado Pla

Henderson Park and Hines Acquire Land in Barcelona’s 22@ for New Student Residence

19 July 2019 – Richard D. K. Turner

Henderson Park and Hines have acquired several plots of land in the 22@ area of Barcelona, ​​ to build a 350-bed student residence, a 3,610-m2 office building and a 176-m2 store. The project is the partner’s third development together and is expected to be ready in time for the 2020 student year.

Original Story: Expansión – Rocío Ruiz

Permira to Sell Student Residences at the Universidad Europea

July 2019 – Richard D. K. Turner

The venture capital fund Permira announced that it would sell two student residences at the Universidad Europea, after having acquired the US group Laureate’s assets in Spain and Portugal at the end of last year. The fund is looking to raise 100 million euros with the sale.

The two student housing blocks are named Leonardo Da Vinci I and II and are located in the European University’s main campus, in Villaviciosa de Odón, just outside of Madrid.  The two residences can house up to 528 students and have a heated pool and gym.

Original Story: Cinco Dias – Álvaro Bayón / Pablo Martín Simón

Syllabus Will Build a New 220-Room Student Residence in Sevilla

10 July 2019 – Richard D. K. Turner

Syllabus, a subsidiary of Urbania specialising in student residences, will invest fifteen million euros in a new dormitory in Sevilla. The new project will consist of 220 rooms, with a surface area of ​​6,150 square meters. The residence is expected to open to students for the 2021-2022 school year.

Syllabus is looking to manage up to 2,500 beds in in Spain and Portugal’s main university cities, attempting to partially fill the current lack of supply. In parallel, Urbania recently signed a contract for the US group Greystar to manage the Syllabus residences in Spain.

Original Story: Eje Prime

 

Student Residences Leads Market with Yield of 5.5%

9 July 2019 – Richard D. K. Turner

According to a study by Jones Lang Lassalle (JLL) in April, a total of 47 student housing developments were currently underway in Spain. Of those, 7,500 will be ready by next year and another 10,000 by 2022. The estimated total investment is expected to reach €1 billion. However, the market needs another 400,000 beds to catch up with existing demand.

The report also highlighted the sector’s comparatively attractive yields.  Student residences have a yield of about 5% in Madrid and Barcelona and of 5% in smaller cities in the country. That yield equals the yields for logistics assets and geriatric residences. The yield for hotels (4%), retail premises (3.15%), offices (3.50%) and residences (3.50%) all lag behind.

The market for student residences in Spain is currently dominated by Resa and Nexo Residencias. U.S.-based Valeo, Temprano Capital Partners and Syllabus have also began operations in recent months.

Original Story: El Confidencial – Álvaro G. Zarzalejos

Greystar Enters Rental Home Sector with the Purchase of a Building on Gran Vía in Madrid

3 June 2019 – Expansión

Greystar Real Estate Partners has inaugurated its expansion plan into the residential rental market in Spain with the acquisition of the property on Madrid’s Gran Vía, 48, containing 100 residential units, for an undisclosed sum.

The operation represents the real estate investor’s second acquisition in the country after it purchased the Spanish student residence operator Resa in 2017 through a joint venture with the fund AXA Investment Managers and CBRE Global Investment Partners.

Greystar has four new build projects under development across Spain, comprising 1,000 beds in total, in cities such as Madrid, Málaga and Pamplona.

Original story: Expansión 

Translation/Summary: Carmel Drake