Ardian and Rockfield Real Estate have consolidated their position in the student living sector with a new investment, a 369-bedroom purpose-built student accommodation (PBSA) asset located in Terrassa, in the province of Barcelona.
This marks the second deal in Spain, after the acquisition of Cristóbal de Moura 196 in Barcelona, and the seventh deal closed by Ardian and Rockfield in just eight months since the launch of their pan-European PBSA strategy.
“Spain presents a highly attractive student-to-bed ratio, reflecting strong demand and limited supply. In Terrassa, there are currently just 315 bedrooms available for an estimated demand of 2,200. Existing options are outdated and lack the premium services students increasingly expect.
“This asset represents a unique opportunity to enter the PBSA market in Catalonia’s second most important university city, in a prime location. It fully aligns with our investment strategy, meeting top international standards of quality and sustainability.”
Edmund Eggins, Managing Director, Ardian
The asset comprises a seven-floor building located on the site of the former AEG factory in Terrasa, Avinguda Jaume I, 60, acquired from ACCIONA Living & Culture. With its extensive experience in residential development, ACCIONA has transformed the site into a masterplan that will feature residential, tertiary uses, and green spaces.
The recently completed asset, which includes 358 bedrooms and almost 3,000 sqm of indoor and outdoor amenities, will be a reference in the city for university housing.
Located in close proximity to the main university centers and the Nord train station, the asset provides excellent connectivity to the city center and Barcelona. The property has been designed to offer a sustainable, modern living environment, with spacious, fully furnished rooms, gym, canteen, swimming pool and large gardens and green areas.
“This acquisition perfectly fits our strategy of targeting acquisitions and forward-funding opportunities of best-in-class PBSA schemes. This investment represents a strategic step in our long-term European vision dedicated to PBSA, a rapidly growing sector that is increasingly central to urban transformation.”
Juan Manuel Acosta, CIO, Rockfield Real Estate
