Patrizia has entered the student residence segment. The manager has completed the acquisition of two assets from the company The Student Hotel (TSH) in Spain, according to El Confidencial.
The investment firm has paid 110 million euros for the properties after the sales process started at 85 million euros. The huge investor appetite on the part of institutions raised the cost of the transaction by almost 30%. Patrizia will obtain a profitability of around 4% per year.
Read the full article in Spanish.
