Ardian and Rockfield acquire a student house in Barcelona from Acciona

Ardian and Rockfield Real Estate are consolidating their presence in the student housing sector with a new investment in a 369-bed university residence in Terrassa (Barcelona). This transaction represents the second acquisition in Spain, following the acquisition of Cristóbal de Moura 196 in Barcelona, and the seventh completed by Ardian and Rockfield in just eight months since the launch of their pan-European student housing strategy. The asset consists of a seven-storey building located at Avinguda Jaume I, 60, in the area of the former AEG factory in Terrassa, and was acquired by Acciona Living & Culture.

The recently completed building has 358 rooms and almost 3,000 square metres of indoor and outdoor common areas, and is a new benchmark for university housing in the city. The building is located in close proximity to the main university centres and the North railway station, guaranteeing an excellent connection with the centre of Terrassa and Barcelona. The building is designed to offer a modern and sustainable environment, with spacious, fully furnished rooms, a gymnasium, canteen, swimming pool, large gardens and green areas.

'Spain,' said Edmund Eggins, managing director of Ardian, 'has an extremely attractive student/bed ratio, a sign of high demand against a still limited supply. In Terrassa, only 315 beds are currently available against an estimated demand of around 2,200. The existing solutions are outdated and lack the quality services that students increasingly expect. This asset represents a unique opportunity to enter the Pbsa market in the second most important university city in Catalonia, in a strategic location. It is perfectly in line with our investment strategy, meeting the highest international standards of quality and sustainability'.