The Valencian company White Investing RE will develop its first operation in the student residences and accommodation segment in Cádiz. The company will promote a project consisting of the construction of a residence to house 136 students.
Negotiation of the project took place during the last quarter of 2022, and the sale was closed a few months ago. JLL provided commercial advice on this transaction. Construction is scheduled to take 26 months, and the building is expected to be delivered in the last quarter of 2025.
The buyer and operator of this project is The Boost Society, part of the Axa Group and White Investing has been advised by Garrigues Barcelona. The building will be certified as sustainable construction, with a "Very Good" rating, awarded by BREEAM, the most widely used sustainable construction label and the first one created in the world.
The project is part of White Investing's Strategic Plan for the period 2023-2025, which is largely focused on the "living" sector (PBSA, BtR, senior living and co-living) as part of its core business.
Without leaving residential, the Valencian firm has focused on two models: living (Build to Rent, co-living and student residences) and health (care homes and senior living). "Until 2018 our main field was the residential sector, but from that year onwards we opened up to the health and living sectors because we saw that these were two segments that had a demand with a deficit in supply," says José Solero, CEO of White Investing.
Jean-Baptiste Mortier, CEO The Boost Society (KLEY, HIFE, CAMPUS): "We are very pleased with this acquisition, which reinforces the presence of our CAMPUS brand for students in this beautiful city in the south of Spain. We have great ambitions in the Iberian Peninsula and numerous discussions are already underway to establish ourselves in the main Spanish student cities such as Madrid, Barcelona, Seville, Malaga, Valencia, Bilbao, Zaragoza, Alicante".
The executive adds that "in each of these cities, we want our student residences, through the quality of their accommodation, common areas and services, to contribute to the well-being of young people and, therefore, to the development of the universities".
