Brookfield and Temprano close €85M financing for Livensa Living

Brookfield and Temprano close €85M financing for Livensa Living
Livensa student housing in Seville

Canadian investment fund Brookfield, together with Spanish real estate investor, developer and operator Temprano, has secured a major €85 million financing for its Livensa Living platform, which specialises in student residences and flexible accommodation.

The financing was arranged with US multinational financial services company Corebridge, formerly known as AIG Life&Retirement. This transaction includes the investment in four student residences and flexible accommodations located in Alcobendas, Getafe, Pamplona and Salamanca.

Livensa Living, the platform of Brookfield and Temprano, owns and manages a portfolio comprising 10,000 beds across 22 operating assets, one under construction and one under development in Barcelona. In total, Livensa Living's portfolio totals 24 assets.

The platform's expansion plan is ambitious: they plan to invest 700 million euros until 2028 to double their current portfolio and reach 20,000 beds. During the current academic year, Livensa Living plans to invest between 150 and 200 million euros in the acquisition of two or three additional projects.

This growth comes in a context where student residences in Spain are experiencing a significant boom. According to the PBSA European Investment Barometer 2023, prepared by Savills, Spain stands out as one of the European markets with the greatest potential in this sector. In the last five years, the cumulative growth in the number of beds in student residences has exceeded double digits, and more than 20,000 new beds are expected by the end of 2025. This increase is mainly attributed to the growing mobility of national and international students.

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