Brookfield Asset Management has sold its Iberian student housing portfolio to Canada Pension Plan Investment Board’s (CPP Investments) student accommodation platform Nido Living for €1.2 billion.
Nido Living said it has secured approximately €700 million in debt financing for its acquisition of Livensa Living, with Crédit Agricole CIB acting as the sole bookrunner.
Livensa Living, which has a portfolio of 22 properties, has been scaled by Brookfield since its 2019 acquisition. It has grown from five properties to include over 9,000 beds across 13 university hubs in Madrid, Barcelona, Lisbon and other prime cities.
Nido Living said the acquisition of Livensa – which adds to its existing Iberian portfolio of 3,000 beds across 10 assets in Madrid, Seville, Valencia, Lisbon and Porto – would contribute to its goal of owning and operating 25,000 beds across continental Europe by 2031.
Source: realassets.ipe.com on the 20th of June