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

 

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 Moreover, most of the existing supply is obsolete.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

Invesco, GSA, Amro & Bankinter are Committed to the Student Hall Sector

6 April 2019 – Expansión

Halls of residence for students have become one of the most sought after assets in the real estate sector in recent years. The demand for beds (which far outstrips supply), the growth forecasts for the market and the lack of suitable supply for the new requirements of the market has led operators and investors to get involved in the promotion and development of new halls of residence.

Four of the largest investors are planning to spend €1.5 billion in the sector over the next few years, as follows:

GSA, which arrived in Spain in 2017, with the purchase of 3 halls of residence from Oaktree, wants to invest €500 million in Spain and Portugal to grow a portfolio of 15,000 beds. It already has four centres in operation and plans to open two more in Barcelona soon.

Meanwhile, Invesco has teamed up with Syllabus, the subsidiary of Urbania, to invest €250 million in new halls of residence with the aim of adding 2,000 beds in Spain and Portugal; and that figure could rise to 3,500.

In addition, the British firm Amro Real Estate is looking to invest €300 million in 5,000 new beds across Spain and Portugal and has just closed its first investment in Granada, where it will build a hall of residence with 360 beds.

Finally, Bankinter has launched a private equity fund to invest between €300 million and €400 million in the construction of student halls across Iberia; its first project will also be in Granada.

The future is bright for the growth of this segment.

Original story: Expansión (by Rebeca Arroyo)

Translation/Summary: Carmel Drake

Invesco & Syllabus to Invest €250M in Halls of Residence for Students

4 March 2019 – Eje Prime

Invesco is teaming up with Syllabus, the subsidiary owned by Urbania, to enter the sector for student residences. Together, the two firms plan to invest €250 million over five years in the construction and purchase of buildings for use as halls of residence.

In total, the alliance seeks to add more than 2,000 rooms to the supply in Madrid, Málaga, Valencia, Barcelona, Pamplona and Salamanca. The current plan involves opening two residences in Madrid in 2020 and one in Málaga in 2021.

Invesco will be the majority shareholder of the investment platform and Syllabus will hold a minority stake. The latter will also promote and manage the halls of residence. Many of the company’s plans involve change-of-use properties, in other words, hospitals and office buildings that will be converted into alternative assets.

Original story: Eje Prime 

Summary/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

From Greystar to GSA, a Who’s Who of Investors in Spain’s Market for Student Residences

27 August 2018

With returns of 5.5%, the student housing market has become the new El Dorado of the real estate market. A long list of foreign funds are beginning to invest in this sector in Spain, and the supply of accommodations is expected to rise by almost 10% up to 2019.

Anglo-Saxon funds and operators dominate the wave of foreign capital that is taking on the market for student residences, one that offers returns of 5.5% in Spain. Just in 2017, investments grew from 50 million to 600 million euros.

The supply of assets in this alternative market has increased by 3.5% since 2015, boasting 93,563 beds in the market at the close of last year. Forecasts expect the sector to grow by another 1.5% this year and up to 7.7% at the end of 2019, according to data from the consultancy JLL. Which are the funds that dominate the sector? And who set to join this latest rush for gold?

The high point of the new wave of international investment in Spain’s resis (student residences) was reached at the end of 2017. Until December, Resa was considered the king of the residential market for university students in the country. It was owned by for years by the firm Lazora (Azora) until the arrival of the joint venture formed by AXA Real Assets and CBRE Global Investment Partners funds, which made an offer for roughly 500 million euros. Subsequently, the company’s 37 assets, distributed among 33 buildings and four undeveloped plots of land, were taken over by the specialised operator Greystar, partner of AXA Real Assets and CBRE GI.

Greystar’s place at the top of the list remains firm, but a long list of other players are vying to take the top spot. The British operators GSA and Collegiate, and the Luxembourg fund manager Corestate all have ambitious plans for growth in Spain.

GSA will invest 300 million euros in new acquisitions in the Spanish market, as reported by EjePrime. The international student-accommodation giant expects to be managing 10,000 beds in Spain within five years’ time. For now, the company has two projects underway in Barcelona, ​​in a total investment of thirty million euros, and is already working on plans to enter the market in Madrid, as well as exploring other cities such as Salamanca along with regional capitals in the south and north of the country.

For its part, Collegiate allied itself with the Spanish group Early Capital at the beginning of the year to enter Barcelona. The operator will manage the student residences at the Finestrelles complex, in Esplugues de Llobregat, acquired by Early last autumn, its third asset after the ones it already owns in Madrid and Valencia. Now, the company is looking for opportunities in Bilbao, Malaga and Granada.

Corestate also flew in from Luxembourg. Like the more than 473,000 university students who arrive every year in the country, searching for accommodation, the fund is looking to enrol in the sector. After beginning work on its first two projects, in Madrid (inauguration in September) and Seville, it is now finalising the purchase of a plot of land on which it is to develop another 400 beds. The manager’s goal is to become one of the top three players in the sector by 2020, with more than a thousand beds spread across the country. The company is already analysing the acquisition of another half a dozen plots of land to attain the goal it set for itself.

The Student Hotel is another of the major European players that have begun to take a close look at Spain. The Dutch operator has announced plans to invest 240 million euros in Spain and has already acquired two assets in Barcelona and will debut its first project in Madrid in 2019.

The Spanish ‘resi’ listed on the MAB

Although much of the capital that is being allocated to the student residence market in Spain comes from abroad, the local players are also looking for their piece of the pie. The Lofttown and Syllabus, a specialised vehicle created by Urbania International, are two clear examples of emerging, local interest in the sector.

Lofttown started its journey in the picturesque neighbourhood of Gràcia in Barcelona. Presided over by Santiago de Cruilles, the company already has two more projects in the Catalan capital in which it invested 24 million euros, EjePrime reported. The company is also analysing a possible debut in other cities around the country, such as Madrid, Girona and Valencia.

For its part, Syllabus is already currently one of the most active investors in the student residence market. Created last April by Urbania, the vehicle expects to invest up to 200 million euros in the development of new student residences in Spain. The company hired the former CEO of Hill International, Jeffrey Sújar, and has already made its first acquisitions, in Valencia and Malaga.

In addition, the university market in Spain is undergoing such a boom that a company that focuses on the market is also listed on the local stock exchange. Student Properties debuted on the Mercado Alternativo Bursátil (MAB) last December. Currently, the company owns a single asset, located in the district of Salamanca in Madrid.

Other possible arrivals

During this year and, above all, the one that is coming, new players are expected to enter the market for university residences. On such arrival is the American giant CA Ventures, which has Spain squarely in its sights within a 500-million-euro European investment plan.

Other institutional investors that are interested in the market include the Belgian group Life, the American investment fund Round Hill and the British operator Amro. The latter is looking for a partner in the national market to invest up to €300 million to create a portfolio of 5,000 beds in southern Europe.

Original Story: EjePrime – Jabier Izquierdo

Translation: Richard Turner

 

Urbania to Open 2 Coworking Offices in Barcelona in September

16 July 2018 – Eje Prime 

Urbania is diversifying within the real estate market by investing in more sectors on the rise. After launching Syllabus, its brand specialising in halls of residences for students, just a few months ago, the group is now promoting coworking offices and shared working spaces across the country, according to a statement issued by the company.

Monday is the name that the group has chosen for this new venture, which will inaugurate its first two office centres in Barcelona in September. Both will have a surface area of 2,000 m2, with capacity for 200 people and they will be located in La Barceloneta and on Avenida Tibidabo in the Catalan capital.

In addition, Urbania has explained that it is considering opening two new premises in Barcelona before the end of the year. This first phase will be the kick off to an “ambitious” national expansion plan, although the company declined to share further details in this regard.

The coworking in La Barceloneta will be located opposite the sea and beach of the same name, whilst the office on Avenida Tibidabo, at the opposite end of the city, in the foothills of the mountains, will have a gym, squash courts and a swimming pool. Monday has already started to market its first two spaces and expects to have 50% of the two centres reserved within the next few weeks.

Original story: Eje Prime

Translation: Carmel Drake

Urbania’s Subsidiary, Syllabus, Invests €10M in New Student Residence in Málaga

13 June 2018 – Eje Prime

Syllabus is on a roll and is in the process of preparing its fifth project in Spain. In its latest project, the subsidiary of Urbania is going to build a new hall of residence for students in the historical centre of Málaga, with an investment plan worth €10 million. The asset will have 143 rooms, according to a statement issued by the company.

The company is going to construct the building from scratch and once completed, in 2020, it will have a surface area of 4,600 m2. The property chosen by Syllabus is located at number 12 Calle Cerrojo, very close to Museo Picasso and to Málaga Cathedral.

The hall of residence will have a central courtyard around which the rooms will be distributed, along with study areas, coworking spaces, games rooms, a cafeteria and a gym. Moreover, the asset will have an outdoor recreation area on the roof.

Urbania’s subsidiary, created recently under the leadership of Jeffrey Sújar, has €200 million to invest in halls of residence for students across Europe. The aim of the company is to generate up to 4,000 beds in the continent’s main university cities.

Since starting life, Syllabus now has five sites under development in Spain comprising 1,200 beds in Málaga, Madrid and Valencia. Moreover, it is planning to acquire new assets in other university cities, including Barcelona, Granada, Sevilla and Salamanca.

For its operations in Spain, the company has signed a strategic agreement with an operator that specialises in the student resident market, Mi Casa Inn, which has more than 600 rooms under management.

Original story: Eje Prime

Translation: Carmel Drake

Urbania Raises €300M to Invest in Real Estate

9 May 2018 – Expansión

The residential property developer Urbania is going to invest €300 million over the next two years in homes and student halls of residence. Following a stage during which it has alternated between residential development and the purchase, renovation and sale of buildings, it considers that now is the right time to leave that formula to one side and focus on the development of land right across Spain to construct homes and build halls of residence for students.

To this end, it has divested some of its renovation projects, such as the building located at numbers 329-331 Avenida Diagonal in Barcelona, which it has sold to a local family office and an Israeli fund for €35 million.

Currently, Urbania is working with four overseas funds to build more than 2,000 homes all over the country, worth €450 million. The group has structured a new vehicle in which Urbania holds a stake for each one of the four overseas funds with which it works on a regular basis in order to invest up to €100 million in the acquisition of land in the main Spanish cities.

Moreover, Urbania has a budget of €200 million for its student hall of residence division, which it is operating under the Syllabus brand and which it plans to increase from its current volume of 1,500 beds to 4,000 beds.

Original story: Expansión (by Marisa Anglés)

Translation: Carmel Drake

Urbania International Builds New Halls of Residence in City Centres

5 April 2018 – Inmodiario

The student hall subsidiary of Urbania International has a brand: Syllabus by Urbania. Under this name, the international property developer’s new firm is already acquiring and developing assets destined for student accommodation in major university cities, not only in Spain but also in other countries in Europe. The company is going to invest more than €200 million in the acquisition and development of these kinds of assets, with the aim of generating 4,000 beds over the next three years.

At the helm of Syllabus by Urbania is Jeffrey Sújar, who was appointed as CEO of the firm in March. According to Sújar, “the aim of Syllabus is to improve the existing student hall supply in the most attractive cities for students, in the best urban locations, creating high-quality spaces, with contemporary designs and a unique supply of services in the sector”.

Strategic alliance with “Mi Casa Inn”

With this in mind, Syllabus has already signed a strategic agreement with the specialist manager Mi Casa Inn for the operation of its properties. Mi Casa Inn (MCI) currently operates seven halls of residence, containing 500 beds, and is the leader and benchmark player in the urban hall segment focusing on international students, where it has been working for more than eight years.

Syllabus and Mi Casa Inn have already started to acquire assets with a flurry of activity in cities such as Madrid, Valencia, Sevilla, Málaga and Barcelona, amongst others, and currently have a portfolio of 1,500 beds under development. They plan to extend their activity to the main university cities in other European countries in the short term.

360º experience

Syllabus and MCI develop a concept that is very different from traditional halls of residence and colleges located on campus or close to universities. The aim of the company is to create spaces where students can live a 360º experience in the heart of cities, where they can mature and develop themselves individually. “It is a more contemporary version of the classic hall of residence”, says Jeffrey Sújar, “adapted to the lifestyle of international young people, giving them a high degree of independence to allow them to meet and live alongside students from very different countries and cultures”.

As such, we have chosen central, urban environments, “where it all happens” and where Syllabus will adapt and construct buildings in which students can live more of a co-living experience than that of a traditional boarder.

Original story: Inmodiario

Translation: Carmel Drake