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Corestate will invest €300M in student residences
24 February 2020 | Alicia Navarro

Corestate will invest 300 million euro in the Spanish student residences market between 2020 and 2022 creating around 3.300 new beds, according to Vozpópuli.

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The fund’s intention is to increase the number of beds on new buildings and existing reformed student residences, so as to reach 5.000 beds. This would represent a 20% increase on the total number of student residence’s beds within those 3 years.

D&B estimates that the Spanish student residences’ segment will grow at a pace of 5.500 new beds per year, which represents a 6% yearly increase. A number higher than the yoy increase registered in 2019 (3.1%) and 2018 (1.5%).

Currently, there are 95.000 beds in student residences in Spain, of which Greystar owns 10.000, which makes it the market’s main player.

With these planned investments, Corestate, which has already invested around 300 million euro in residences in Spain, aims to become Greystar’s great rival in this segment.