Global Student Accommodation Group (GSA) has added a 302-bed property in Spain to its student housing portfolio.
GSA has bought the Emilia Pardo Bazan property in Madrid from Corestate Capital Advisors with debt financing provided by CaixaBank. Financial details were undisclosed.
Opened in 2018, Emilia Pardo Bazan comprises single, double and studio rooms, with facilities for students.
The transaction increases GSA’s Madrid assets to over 1,000 beds within the Ciudad Universitaria area and over 1,600 in the city.
Nicholas Porter, chairman at GSA Group, said: ”This acquisition strengthens GSA’s position as the purpose-built student accommodation provider of choice in Madrid, underpinned by the resilience of the higher education sector and the supply and demand imbalance of quality student accommodation.”
To read the digital edition of the latest IPE Real Assets magazine click here.