The student accommodation business continues to attract the attention of investment funds that have invested heavily in this sector at the expense of the residential rental business. In this American case Gray Star This has been done with three major colleges … It was owned by Merkel CapitalAmong them is the one built last year on the island of La Cartuja.
The property in question is located on Juan Bautista Muñoz Street, near the Higher School of Engineers and Alamillo Park, and Named after Phoebe Seville. In addition, it has the Faculties of Communication of the University of Seville and the University of San Isidoro Center in the same environment. This new accommodation has a capacity of 500 students and is the largest of the three sold in the same package for 120 million. The other two are located in Sabadell and Pamplona.
Greystar is an American fund dedicated to investing, developing and managing real estate assets. This company resumed its activity in the student accommodation sector in Spain in 2023, after selling the RESA platform, and this latest acquisition supports expansion in Europe. The Seville residence hall, like the other two halls, will operate under the brand Canvas, the logo this principal created for students and Young Professionals launched in 2021, which includes 26 assets in seven countries and more than 11,700 beds (including projects in development).
“Spain remains one of the most strong and attractive European markets for Greystar, supported by strong demand from both national and international students and the continued confidence of institutional investors in the sector,” said Greystar’s Spain Director. Rafael Fernandez Villaverde, In a statement. It shows that interest continues to grow in our country for what this sector calls “flexible living”, the segment where housing falls into place.
This operation is in addition to the one carried out last summer by Nido Living, the platform owned by a Canadian fund, which purchased the residence located on Antonio Moura Street from Levinsa Livingwhich also belongs to another investment fund, in this case Brookfield Asset. The original has 505 rooms and is close to the Reina Mercedes and Viapol campuses and the private Eusa universities.
Added to this process are two other sales in one year, each with half a thousand beds
Just one year ago The ownership of the Nodis Sevilla residence has also changed, Which was owned with eleven others by the EQT Fund and Moraval promoter. They all went into the wallet of Azzurra, the Spanish manager who spent more than $400 million on them. This property is located on Ramón Carande Street, near Plaza de España and has 1,127 beds. It is one of the largest universities in the city and opened its doors in 2022, serving university students at the Viapol and Reina Mercedes campuses.
The supply is growing at full speed
Seville has about 70,000 students in higher education between its two public universities (US and UPO) and private institutions. 33% of students come from other Spanish provinces and 5% are internationally mobile, including Erasmus students. All of this is leading to an increasing number of students, both national and foreign, visitors and digital nomads aspiring to find some sort of flexible accommodation. Interest in this type of offer is increasing due to the scarcity of rentals, even seasonal ones, and the high prices.
The city will end the year with 8,000 places in student housing to meet the growing demand of more than 24,500 students seeking housing who come from outside the city. La Cartuja, where there was historically no residence hall, became one of the areas of most interest. There are currently two in service and a third under construction.