Student Residence at number 37 Calle Don Ramón, Madrid | Photo Collected From Google Maps
In a release sent this Monday to the Mercado Alternativo Bursátil, the REIT revealed that the suspensions of activity at the Universities caused a «dramatic» reduction in the number of people currently staying at their sole student residence located at Calle Don Ramón de la Cruz 37 in Madrid. The student residence remains open, but with «minimal occupation».
In order to face the current crisis, Student Properties Spain benefits from a «solid» financial situation which would «allow it to face prolonged scenarios with very low occupation».
For now, the REIT promises to keep monitoring the current situation and if needed it will «adopt measures to reinforce its finances».