A&G Banca Privada and Moraval will invest €100M on student residences

A&G Banca Privada and Moraval will invest €100M on student residences

The deal includes developing student residences in different Spanish cities aiming to place more than 2.000 beds on the market within the next 2 years. To achieve this, the new joint venture started its activity in November with the first operations to build new units in Madrid (with more than 400 beds) and Zaragoza (+200).

For A&G – which is part of this joint venture through its venture capital fund recently registered at CNMV A&G PBSA I, FCR-PYME -, this operation reinforces the company’s bet on real estate alternative segments and, at the same time, the diversification of its clients’ portfolios. «Besides seeking prime operational partners, when it comes to structuring the operations, we take into account our clients’ profiles and try new formulas to minimise the main risks while looking into very attractive revenues», explained Alejandro Núñez, director of Alternative Investments at A&G.

Grupo Moraval will reinforce its investment on student residences through this joint venture. It should be noted that this group is a student residence developer which has new developments in cities such as Madrid, Barcelona, Malaga, Bilbao, San Sebastian, Pamplona and Salamanca.

According to the release made available this week at A&G’s webpage, Grupo Moraval’s current projects represent 20% of all the spots available on new residences built between 2020 and 2022, with a total of 4.600 beds. The agreement with A&G will reinforce its investment (with 2.000 more beds), allowing it to reach a market share close to 30%.

According to Álvaro Soto, Grupo Moraval’s managing director, «this alliance with A&G, a leader in alternative segments, offers us a unique opportunity to build together premium student residences which meet the current needs of the Spanish market».

Álvaro Boada, the partner at AIGA Advisory, part of group A&G developer within this joint venture, pointed out that «working hand in hand with the Spanish student residence leader: Grupo Moraval, is an honour for us. During the last few months, we were capable of selecting together a series of projects which meet our investment standards so as to create a robust and diversified portfolio which will provide our clients and investors exposure in one of the segments with more potential within the real estate market».

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