The joint venture formed by Round Hill Capital and CPP Investment Board has acquired a PBSA asset in Madrid for 30 million euros.
Round Hill Capital has awarded the construction of the building to Alta Real Estate. This is the second student residence developed by Alta Real Estate for Round Hill Capital in Madrid, following the development of a 500-bed PBSA scheme in Aravaca.
The asset is a high-end student residence located to the north of Madrid city center. The scheme is a 10-minute walk away from IE University’s new Fifth Tower campus. In addition, it is excellently connected via the Plaza Castilla metro and Chamartín train station. The project comprises 4 blocks of between 3 and 5 floors each. Communal areas include a rooftop terrace, gym, games room, co-working space, lounge, cafeteria, laundry and parking.