AXA IM - Real Assets and CBRE Global Investment Partners –on behalf of their clients-, acquired most of the portfolio, while Greystar acquired the business operation and will be managing the assets. The transaction is subject to the final approval of competent authorities.
Group Resa has established itself as the greatest platform of student residences in Spain with 9,309 places in 19 cities, among which there are Madrid, Barcelona and Salamanca. Resa, managed by Azora since 2011, has experienced a significant growth during this period, going from 26 residences to 37, 33 of which are currently in operation, and four others are under development.
BBVA and CBRE were the financial advisors of the sellers, and Garrigues was the legal advisor of the operation.