EQT Exeter, through its EQT Real Estate II fund, has created a joint venture with Grupo Moraval, a Spanish developer with an approximate 30% market share in the Spanish student residence sector that have been or are being developed between 2020 and 2022.
Estimates are that the joint venture will have the initial capacity to create an investment portfolio valued at more than €300 million, with the aim of expanding to more than €500 million.
The joint venture will create a portfolio of student residences in Spanish cities with a growing demand for student accommodation and a relatively low percentage of specialised accommodation supply. Malaga and Seville are considered two of the better fits within the new company’s strategy.
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