Stoneshield launches €600M fund for student residences

Stoneshield launches €600M fund for student residences

Stoneshield is preparing a €600 million fund among institutional investors to invest in student residences, an activity it carries out through the MiCampus chain, according to El Confidencial.

MiCampus currently has a total of 25 complexes in sixteen provinces, as well as two apartment buildings, with an installed capacity of 6,000 beds. Stoneshield has a further 2,500 beds in the pipeline for development over the next two years.

To accelerate these projects, it is seeking capital of 600 million euros from large investor groups. The shortfall is concentrated in secondary cities and, above all, in modern assets, far from the nursing homes or retirement homes.

The shortage of places in student residences stands at twelve thousand, according to a report produced by Atlas Real Estate Analytics. The supply of places in Spain in student residences as a whole stands at 94,412, in addition to a further 18,000 beds that are currently under development and construction and which will come into operation in the coming quarters.

Madrid accounts for nearly 15% of the supply, followed by Barcelona with just over 10% and, in third place, Seville, with 7.6%. The firm's data point to a deficit of 12,000 beds (beyond the pipeline of 18,000 beds) of student residences in Spain, although not mainly in the large markets such as Madrid, Barcelona or Valencia. Thus, the greatest unmet needs are to be found in cities such as Girona, Jaén, Castellón, Almería, Vigo, Cádiz and Murcia.

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