:
Europe: Vita Group and real estate company Colonial SFL have formed a joint venture to develop student and flex-living accommodation across major European cities, beginning with a 2,200-unit portfolio in Madrid.
The new investment platform will focus on prime urban locations where the companies have identified long-term demand and a shortage of purpose-built accommodation.
Its seed portfolio comprises Vita Group’s two assets at the Oria Innovation Campus and Colonial SFL’s Santa Hortensia 26–28 development.
Together, the Madrid properties are expected to provide approximately 2,200 student beds and flex-living units, which are scheduled to become operational by 2028.
Vita Group will provide development and management capabilities, supported by Colonial SFL’s real estate portfolio and presence across European cities.
Vita Student will manage the purpose-built student accommodation included in the venture. The brand currently manages more than 11,500 beds across 33 properties in 20 university cities.
Mark Stott, CEO of Vita Group, said: “Vita Group and Colonial SFL are building a significant premium European living platform, bringing together complementary strengths to scale proven living concepts across key European markets.
“We see a substantial long-term opportunity across Europe’s capital cities and major university centres, where structural undersupply and changing expectations of urban living are driving demand for high-quality, professionally managed places.”
Pere Viñolas, CEO of Colonial SFL, said the partnership would combine the company’s experience in repositioning prime urban assets with Vita Group’s development and management capabilities.
He added: “The partnership strengthens the project’s commercial positioning and enhances its long-term operating potential.”
The joint venture forms part of Colonial SFL’s strategy of investing in sectors supported by long-term demand. The company owns more than one million square metres of real estate across Barcelona, Madrid and Paris.
Financial details of the joint venture were not disclosed.
Highlights
- Vita Group and Colonial SFL have formed a European urban living joint venture
- The platform will focus initially on student accommodation and flex-living
- Its Madrid seed portfolio will include approximately 2,200 beds and units
- The first properties are expected to become operational by 2028
- Vita Student will manage the platform’s student living assets
