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Spain: Patron Capital is exploring the sale of its Spanish coliving platform Vandor, a seed portfolio made up of 1,400 beds valued at around €400 million (£350 million).
Patron entered the Spanish market with a majority stake in Barcelona-based Vanguard Student Housing. The business was renamed Vandor and its focus broadened to include coliving accommodation aimed at young professionals.
The acquisition was aimed at driving the improvement of management, IT, sales and marketing systems.
Vandor has 21 operational assets across four cities – Madrid (3), Barcelona (13), Valencia (4) and Bilbao (1).
The potential sale highlights the growing trend for living sector portfolios to own both the real estate and the operating platform; and the investor interest in the Spanish market – the sale comes shortly after Goldman Sachs acquired the Urban Campus portfolio.
Highlights:
- Patron Capital is exploring the sale of its Spanish coliving platform Vandor
- The portfolio is made up of 1,400 beds valued at around €400 million
- Vandor has 21 operational assets across four cities – Madrid (3), Barcelona (13), Valencia (4) and Bilbao (1)
