11 March 2019 – Eje Prime
The investment manager Nuveen Real Estate, which owns 50% of the Xanadú shopping centre in Madrid, has teamed up with the Austrian real estate firm Value One to create a new investment vehicle with €600 million to spend on the promotion and management of student halls in Europe.
The new company already has three assets, in Vienna, Lisbon and Porto, which the companies expect to launch within the next two years.
Under the terms of the agreement, Nuveen is the investment advisor, Value One is the property developer and Milestone, a subsidiary of Value One, will be the operator of the properties once they are up and running.
Original story: Eje Prime
Translation/Summary: Carmel Drake