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GSA purchases student residence in Madrid for €50M
09 January 2020 | Vanessa Sousa

Luxembourg’s Corestate Capital, specialised in the student residences segment, sold its Youniq student residence in Madrid to British Global Student Accomodation (GSA) for 50 million euro.

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The student residence is located at number 42 Paseo de Juan XXIII, next to Madrid’s Ciudad Universitaria. It offers 206 rooms (300 beds) and several services to its occupants, such as a gym, study lounge, basketball court, bicycle parking facilities, parking lots, sun terrace, among others.

Consultant JLL advised Corestate in this transaction and was also charged with selling two more units, which are still being constructed. One of them is located in Seville and the other in Valencia.

GSA is following its investment strategy in Spain. According to market sources consulted by Spanish newspaper Expansión, the company plans to increase in around 15.000 beds its portfolio in Spain and Portugal within the next five years. The British company’s first student residence in Portugal should open its doors in Lisbon during the first quarter of 2020.