Vita Group has confirmed the sale of two PBSA properties in Barcelona to a fund managed by Morgan Stanley Real Estate Investing (MSREI), as reported previously by PropertyEU.
The deal is said to worth around €150 mln, sources told PropertyEU at Mipim.
Vita Student Pedralbes was Vita Group's first venture outside the UK, opening in September 2022. The property consists of 274 studios located near business schools like IESE and ESADE and offers amenities such as rooftop gardens, a pool, gyms, co-working spaces, and social kitchens.
Vita Student Poblenou opened in September 2023 in Barcelona's 22@ district. It features 349 studios, a rooftop pool, co-working areas, and private dining rooms.
After the sale, Vita Student will continue to manage both residences on behalf of MSREI.
Ioannis Verdellis, CIO for Vita Group said: ‘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.’
