A newly created sport-oriented student housing investment joint venture between Harrison Street and T3N Sport & Investment is developing its first project in Spain.
Harrison Street and T3N said their new venture – created to invest and develop projects in Spain, the US, Japan and Mexico – has acquired the ESC LaLiga & NBA Madrid Village project, a student accommodation asset comprising 450 beds across seven buildings.
The purpose-built student accommodation project is located in Villaviciosa de Odon in Madrid.
The asset, the official centre for LaLiga and NBA in Spain under T3N agreements, has been operational since July 2022 and will complete the construction of an NBA facility before August 2023. T3N will manage and operate the asset on behalf of the joint venture.
Harrison Street and T3N said the joint venture is also in talks to develop further complexes in other locations across Spain, including Madrid, Valencia, Malaga, Mallorca and Cantabria, and is also pursuing several opportunities in the US, Mexico, and Japan.
Paul Bashir, CEO of Harrison Street’s European business, said: “We’re thrilled to expand our presence in Spain and leverage our proven global experience through this new joint venture with T3N, a renowned investment company that is transforming the Student Housing and sports industry.
“This project meets that demand with first-class accommodations and facilities, and we’re proud to support the expansion of the project alongside T3N to bring even more student housing options to Spain.”
David Pampliega, co-CEO of T3N, said: “We consider this JV with Harrison Street as a strategic alliance with one of the top alternative real estate investors worldwide that will allow us to replicate the successful model from ESC LaLiga & NBA across Spain and around the globe.”
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