GSA purchases student residence in Madrid for €50M

GSA purchases student residence in Madrid for €50M

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.

Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!