Real assets investor Azora has re-entered the European student housing sector with the acquisition of a portfolio of 12 assets in Spain from a real estate fund managed by EQT Exeter.
The assets, spanning nine cities across the country, were acquired by an Azora purpose-built student accommodation (PBSA) vehicle from the EQT Real Estate II fund for an undisclosed amount.
EQT Exeter built the portfolio when it teamed up with Grupo Moraval in May 2021 to acquire a premier portfolio of PBSA assets in Spain, totalling about 1,500 beds. Following the initial acquisition, EQT Exeter has grown the portfolio to 12 assets, with approximately 4,100 beds in cities like Madrid and Barcelona, and in secondary education hubs like Seville, Málaga and Granada.
Source: realassets.ipe.com on the 29th of November