Temprano Capital Partners has acquired this PBSA property in Aravaca, Madrid. The property has been operating since 2018 under the Collegiate AC brand. The purchase price was not disclosed.
The Aravaca property offers 215 self-catered studios alongside 2,000m² of common areas, including library, study rooms and coworking spaces, residents’ lounge, private dining rooms, gymnasium, multi-media rooms, as well as terrace and outdoor areas. Temprano has a portfolio of over 2,000 beds in operation and an additional 2,000 beds due to start operation for this Academic Year 2020/2021, plus an additional 6,000 beds of secured pipeline currently under development across Spain and Portugal, all of which are expected to be operated under the Livensa Living brand.
The Aravaca property is located at Avenida del Talgo, 79, and is a 5 minutes’ walk from the eponymous suburban train station and well located by public transport links to the nearby Complutense campuses in both West Madrid and Somosaguas. The property also has excellent public transport links to central Madrid, as well as benefitting from the nearby shops, restaurants and local amenities of the popular Aravaca and Pozuelo neighbourhoods. In addition to its extensive common areas, the residence offers a fully inclusive 24/7 concierge service and high-speed Wi-Fi throughout the project. Each studio includes its own kitchen, bathroom, Smart TV and air-conditioning, as well as high-quality furniture and fittings to create a comfortable environment.
Timothy Young, head of acquisitions for Temprano, commented: "This acquisition is an excellent fit for our portfolio, providing high-quality modern space for students at a reasonable price. The property is well located to serve the principle university campuses in Madrid and reinforces our presence in Spain’s capital.”
