Starz Real Estate has financed the acquisition of the Livensa Living Porto Campus student residence in Porto, Portugal for Temprano Capital with a €31.1 mln senior facility.
Temprano Capital is Brookfield’s PBSA and co-living platform in Iberia.
Livensa Living Porto Campus is a 723-bed purpose-built student residence, with amenities comprising a library and study rooms, outdoor pool, roof terrace, gym, and multimedia room. The property is situated in the heart of the University of Porto’s Asprela Campus, the main campus of the University of Porto and the Polytechnic Institute of Porto, and several private universities.
Limor Shilo, head of origination, at Starz Real Estate, commented: ‘We are pleased to have supported Temprano and Brookfield in this acquisition. Livensa Living Porto Campus is set to benefit from strong demand given its prime location, high quality amenities, expert residence management and market supply dynamics.’
Mariela Martinez, CFO at Temprano Capital, added: ‘Temprano is delighted to have the Livensa Living Porto Campus asset as part of the portfolio in Iberia and the results achieved by everyone at Livensa Living, our wholly owned operator. We have high expectations for the future of this key investment. We are very grateful for the support of our team of advisors on this transaction and especially to our financing partner Starz Real Estate.’
Brookfield AM were advised by HSF and Garrigues on the financing and Starz by Taylor Wessing, Abreu Advogados and Maples. JLL provided valuation services.
