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Greystar, AXA IM – Real Assets and GIP buy Spanish student housing provider
ABOUT GREYSTAR Greystar is a leading, fully integrated multifamily real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with ...
Greystar Real Estate Partners has acquired Spain-based Resa, a student accommodation providerThe acquisition was made via a joint venture partnership that includes AXA Investment Managers - Real Assets and CBRE Global Investment PartnersNo financial terms were disclosed.
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Greystar Real Estate Partners has acquired Spain-based Resa, a student accommodation providerThe acquisition was made via a joint venture partnership that includes AXA Investment Managers – Real Assets and CBRE Global Investment PartnersNo financial terms were disclosed.
MADRID–(BUSINESS WIRE)–Greystar Real Estate Partners (“Greystar”), a global leader in the investment, development, and management of rental housing properties, closed today, through a joint venture (“JV”) partnership, on the acquisition of Resa, the largest student accommodation provider in SpainThe JV includes AXA Investment Managers – Real Assets (“AXA IM – Real Assets”) and CBRE Global Investment Partners (GIP), both acting on behalf of clients, who have acquired the substantial majority holding in the portfolio in equal sized shares, while Greystar has bought the remaining balance and will act as property, development and asset manager for the portfolioThe deal is the largest investment transaction in student housing on the Iberian Peninsula.
The previously announced JV partnership marks Greystar’s first investment in Spain and will serve as a platform to build a diversified rental housing business and portfolio with backing from global institutional capital.
“The Resa portfolio is undoubtedly Spain’s premier student accommodation provider and will provide Greystar with a significant presence in the prime markets of Madrid and Barcelona on which to build out a diversified Spanish rental housing platform,” said Wes Fuller, Executive Managing Director of Greystar’s Investment Management business“We are excited by the tremendous opportunity in the country, and look forward to bringing Greystar’s proven business model and institutional capital to the Spanish market for the long term.”
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