Merkel Capital buys a plot of land in Madrid to build a 670-bed student residence

Merkel Capital buys a plot of land in Madrid to build a 670-bed student residence

Merkel Capital has completed the purchase of a plot of more than 22,000 square metres of buildable land on which it intends to build a student residence with 670 beds and 274 parking spaces with all services and large communal areas including a swimming pool, sports and garden area, cinema and study rooms.

The project, located in Vallecas, opposite the South Campus of the Polytechnic University of Madrid (UPM) and very close to the Vicálvaro Campus of the Rey Juan Carlos University (URJC), will have a ground floor plus six floors, single rooms and twoday rooms, both with terrace, and Breeam very good certification.

The PBSA complex will be operated by Yugo, a company that manages more than 150 residences and 65,000 beds in nine countries and 75 cities. It is active in the United States, Ireland, the United Kingdom, Germany, Australia and Spain. In the Spanish market, Yugo has 13 residences -located in Madrid, Barcelona, Alcalá de Henares, Salamanca and Seville- which will be 16 in 2024.

Merkel is currently building four university residences in Barcelona, Pamplona, Granada and Seville, in addition to its Valencia location and the recently acquired one in Madrid, where construction will begin in 2024.

With this acquisition, the firm, which will continue to invest in the capital in the coming months, is approaching its strategic objective of investing more than 450 million euros in the development of 4,500 beds over the next three years.

In addition to university student residences, Merkel is also exploring new investment opportunities in other segments with strong synergies such as flex-living, which will allow it to strengthen its presence and leadership position in the Spanish market.

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