A fund managed by Morgan Stanley’s global private real estate investment management arm has acquired two student residences in Spain from Vita Group.
The Morgan Stanley Real Estate Investing (MSREI) fund has completed the acquisition of Vita Student Pedralbes and Vita Student Poblenou totalling 624 beds in Barcelona.
In a recent report, IPE Real Assets’ sister publication PropertyEU revealed that MSREI’s Prime Property Fund Europe was in exclusive talks to buy the two properties for around €150m, according to sources at MIPIM.
Ioannis Verdellis, Vita Group’s CIO, said: “We’re delighted to complete this transaction. Spain and specifically Barcelona have enjoyed significant student growth over the last decade, attracting top talent from around the world to study at their leading institutions.
“Vita Student Pedralbes and Poblenou are perfectly placed to service Barcelona’s active market and the businesses’ performance since opening our first scheme in 2022 is testament to this.”
Vita Student will continue to operate the buildings on behalf of MSREI.
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