Purpose-Built Student Accommodation joint venture with Grupo Moraval
EQT Exeter and Grupo Moraval form EUR 500m joint venture to deliver portfolio of purpose-built student accommodation assets in Spain.
EQT Exeter, the global real estate solutions provider, and Group Moraval, a leading Spanish developer, have formed a joint venture to create a portfolio of high-quality, sustainable and affordable student accommodation facilities in Spain.
The joint venture has already secured two initial sites in Seville and Málaga comprising approximately 1,500 beds and is actively working on a strong pipeline of future opportunities.
The joint venture constitutes EQT Exeter’s first investment in Spain and combines its ‘business to consumer’ strategy, which is focused on taking advantage of demographic changes occurring across Europe, and its social impact approach to value creation.
The joint venture’s assets will be let at market-rate rents under the newly created “Nodis” brand. Nodis expects to embody strong values of dynamism, vitality and safety in its operations. As such, the residences will be equipped with state-of-the-art facilities, high-quality amenities and premium services including but not limited to gyms, private lounges, living and gaming areas, libraries, work and study spaces, cinemas, parking, free high-speed internet and rooftop terraces.