Spain: Vita Group has completed the sale of two Vita Student residences in Barcelona to a fund managed by Morgan Stanley Real Estate Investing (MSREI).
The assets comprise a combined totalling 624 PBSA beds. Vita Student Pedralbes was Vita Group’s first development outside of the UK, opening in September 2022. The building has 274 studio apartments set within the university district of Barcelona. Amenities include terraces, roof gardens, a pool, indoor and outdoor gyms along with coworking spaces, socialising spaces and MasterChef style social kitchens. Vita Student Pedralbes is well placed to service Barcelona’s business schools IESE and ESADE, both of which are within a short walk, with Universitat de Barcelona and Universitat Politècnica de Catalunya also within easy reach.
Vita Student Poblenou is situated in Barcelona’s 22@ district. Opened in September 2023, the building has 349 studio apartments, a rooftop pool with views out to the sea and the city’s landmarks and is complemented with social spaces, coworking spaces and private dining rooms. Vita Student Poblenou is ideal for those studying at EADA, UPF and IED.
Vita Student will continue to operate the buildings on behalf of MSREI.
Ioannis Verdelis, CIO for Vita Group said: “We’re delighted to complete this transaction. Spain and specifically Barcelona have enjoyed significant student growth over the last decade, attracting top talent from around the world to study at their leading institutions. Vita Student Pedralbes and Poblenou are perfectly placed to service Barcelona’s active market and the businesses’ performance since opening our first scheme in 2022 is testament to this.”
