Harrison, Alta to Develop New PBSA in Spain
|Created At:||26 March, 2021|
|Created By:||Casita Team|
American company, Harrison Street, has formed a new joint venture with Spanish firm, Alta Real Estate, to build a new 260-bed student accommodation in Salamanca, Spain.
The new PBSA is expected to be ready in July this year. Global Student Accommodation (GSA), a subsidiary of Nexo Residences, will be responsible for managing this property.
This four-storey property offers 260 studio apartments and has a lot of amenities, including study areas, a terraced garden, outdoor seating, a gym, a cinema room, and parking.
This asset is part of the 1000+-bed pipeline that the newly created Harrison Street and Alta Real Estate joint venture currently has across leading university cities in Spain like Oviedo and Barcelona.
In 2015, Harrison Street partnered with GSA, this partnership led them to jointly acquire 27 properties with over 8600 beds in Spain, Ireland and the UK.
The CEO of Harrison Street’s European business, Paul Bashir, declared that there are around 30,000 students in Salamanca, Spain, where student accommodation is provided for less than 10% of them, not to mention that most of those properties are outdated.
“Alta Real Estate has a highly successful track record delivering top tier purpose-built student accommodations across Spain, and we are pleased to continue our partnership with them to deliver much-needed modern housing options to students attending Salamanca’s prestigious universities,” he said.
Similarly, the Managing Partner at Alta Real Estate, Juan Francisco Díaz Bermejo, is pleased with this partnership with Harrison Street, which is a leader that has a global presence in the markets it operates.
He stated: “After two years of dedicated work, we can finally announce the upcoming opening of our residence in Salamanca, a first-class project, as the excellent and professional team at Harrison Street, always demands of us, which we are sure will have a great reception among the students of Salamanca.”
The Business Development Director of GSA, Christopher Holloway, also stated: “Partnering with Harrison Street to manage another of their projects is an important step for GSA, strengthening our credentials as the third-party operator of choice across Europe and the USA, and we look forward to serving the students of this vibrant university city.”