Invesco Real Estate, the global real estate investment business of Invesco, has acquired a prime, modern complex of 34 terraced houses on a 5,000 m2 residential area in Marbella, Southern Spain.
The seller was Dazeo, the residential joint venture created by Dazia Capital and Eurazeo Patrimoine. The recently redeveloped Bahia residential complex of Les Roches, fully refurbished and upgraded in early 2023, sits in a wealthy area of Marbella.
It is fully let on a long-term lease to the hospitality school Les Roches, which uses the asset to provide housing for its students. The 34 terraced houses each have between four and six rooms and can accommodate 176 students in total. In addition, 1,700 m2 of the site includes a restaurant and amenity spaces such as a gym and terraces.
Les Roches is a very high rated Swiss-headquartered business school which specializes in hotel management; it has more than 2,000 students from over 100 different nationalities across a number of facilities worldwide.
Source: PropertyEU 19 Sep 2024