Student housing
Type of operation
Buy-out/Build-up
Invested capital
30 M€
Investment date
2012
Exit date
2017
Largest student accommodation platform in Spain
EnCampus currently operates 36 college student residences with c.9,200 beds. Student residences are managed under long-term concession agreements, land exploitation rights and long-term leases.
Its residence portfolio is well-diversified by geography (presence in major university cities in Spain, specially in Madrid and Barcelona), location (city center and on-campus) and product offering (full board to accommodation only).
Investment thesis
Leading presence in Iberia, highly fragmented market with significant build-up opportunities
Sellers capital constrained and in need of divesting non-core and underinvested assets
Growth potential in premium student housing market
Partnership with leading Spanish real state player
Value added
Growth
- Actively supported build-up, under which 11 new college student residences were acquired or developed
- End-state platform operated 25 student residences
Operational excellence
- Operational improvement to enhance customer loyalty, occupancies and tariffs
- Significant revamping of portfolio
Organization
- Strengthening of management team by incorporating new CEO, COO and CFO
- Additional key hires in the Resa commercial department
