Urbania closes the sale of a student residence in the university heart of Madrid

Urbania closes the sale of a student residence in the university heart of Madrid

Urbania has closed, today, the sale of a student residence in the Moncloa university district, in Madrid, which will be operated by RESA from the next academic year. This asset is part of the sale and purchase agreement reached by Urbania, Invesco, Greystar, AXA and CBRE GI in November 2020 and is the third residence that Urbania develops in the Madrid capital, together with the properties of Paseo de la Habana and Atocha.

The building has a total area of ​​almost 6,800 sqm, with the capacity to accommodate 249 students. Among other services, the property offers areas equipped with the best comforts for individual study and collaborative work, as well as a gym, cafeteria and music room.

Jeffrey Sújar, Managing Partner of Activos Alternativos at Urbania, “This residence reflects the university spirit and hospitality for which the city of Madrid is characterized. Located in a strategic enclave, such as Moncloa, we are sure that national and international students who stay there - from the next year - will enjoy all the advantages offered by the Smart Living concept. RESA will offer in this property the best comforts for the study, in a modern and pleasant environment, so that they feel, from the first day, at home ".

Agreement with Greystar, AXA and CBRE GI

Last November, Urbania and Invesco reached an agreement with Greystar, AXA and CBRE GI for the sale of four properties located in Madrid, Valencia and Malaga, for a total of 145 million euros. After the delivery of the hotel located in Alboraya and the residences located in Paseo de la Habana and Moncloa, only the delivery of the property located in Malaga is scheduled, which will be completed in the coming months.

Urbania is immersed in the development and promotion of new projects in Spain and Portugal, focused both on residential for students (with a pipeline of 2,000 beds under development), as assets of coliving, coworking, residential for seniors and build to rent.

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