Residencias de Estudiantes en España will be purchased by PGGM Infrastructure Fund, according to a contract (RESA).
In accordance with the agreement, PGGM will retain the services of the Spanish student housing organization as it seeks to strengthen its position within the social infrastructure sector.
AXA IM Alts, CBRE Investment Management, and PGGM entered into a legally binding agreement to buy the company from Greystar.
With over 11,200 beds in 21 major student cities, including Madrid, Barcelona, and Valencia, RESA is one of the main platforms for student housing in Spain. Additional beds are planned.
Given that the company already owns a 60 percent investment in UPP, a UK-based provider of infrastructure and student housing, the acquisition will enhance PGGM’s position in the student housing market.
