Funds managed by Global Student Accommodation have bought the 2,200-bed student accommodation portfolio Nexo Residencias from Threesixty Developments, a company owned by funds managed by Oaktree Capital Management.
Nexo is a full service platform in Spain that develops, owns and operates student housing schemes and has assets in Madrid and Barcelona.
Oaktree sold its UK student housing platform and 7,100-bed portfolio to GSA in September 2016.
Nicholas Porter, founder and chairman of GSA said: “We continue to deliver on our rapid European expansion plans, targeting higher education markets where there is a substantial supply-demand imbalance.”
JLL’s corporate finance and alternatives teams acted as financial and real estate advisors to Threesixty.
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