TPG Real Estate Partners Pulls Trigger on Spanish Student Housing with Urbania
Posted on 12/03/2021
Through a joint venture TPG Real Estate Partners and Urbania International Investments, S.L. (Urbania) acquired a portfolio of student accommodation assets in Spain. Urbania is a Spanish real estate developer. TPG Real Estate Partners is part of TPG Capital. The JV acquired three purpose-built student accommodations (PBSA) in Spain, which will be operated by their new joint venture Bcome. The three assets have a total of 1,000 beds spaced in individual rooms and are located in Madrid, Salamanca, and Pamplona.
In November 2020, Greystar Real Estate Partners, LLC, AXA Investment Managers – Real Assets (AXA IM – Real Assets), and CBRE Global Investors acquired four freehold student accommodation assets in Madrid, Valencia, and Málaga. The portfolio comprises 1,100 beds and was purchased from a joint venture between Urbania and Invesco Real Estate by a platform which is majority owned by AXA IM – Real Assets and CBRE Global Investment Partners, the indirect strategies business line of CBRE GI, both acting on behalf of clients, alongside Greystar.
