Pinsent Masons and Pérez-Llorca advise on €330M PBSA deal
Pinsent Masons has advised a joint venture between King Street and Medinvest Asset Management on the disposal of a portfolio of student residences in Spain to Nuveen Real Estate for approximately €330 million.
In the other way, Pérez-Llorca advised Nuveen Real Estate on all legal aspects of the acquisition. The transaction also involved Uría Menéndez as legal adviser to the financing bank, Crédit Agricole Corporate and Investment Bank (CACIB), while EY acted as tax adviser to Nuveen and PwC advised King Street on tax matters.
The transaction represents one of the most significant student housing deals completed in the Spanish market this year and highlights continued investor interest in the living sector, particularly purpose-built student accommodation (PBSA) assets.
Pinsent Masons provided comprehensive legal advice to the sellers across the real estate, corporate and tax aspects of the transaction, supporting the joint venture throughout the disposal process.
The teams
The advisory team was led by José Luis García-Manso, partner in the real estate practice, alongside Francisco Aldavero, partner in corporate, and Gonzalo Gil, partner in tax.
The wider team included Tatiana Fernández de Casadevante, Managing Senior Associate in Corporate; Pedro Esquivel de la Guardia, Senior Associate in Real Estate; Alejandro Mas, Associate in Corporate; and Isabel Elena Wimmer, associate in Tax.
At Pérez-Llorca, the transaction was coordinated by partner Jesús Varela. The Real Estate M&A team was led by counsel Nuria García and included Enrique Delgado, Rocío Blanco, María Díez de Rivera, Rafaella Dalmau and Claudia Muñoz-Cobo.
Planning and licensing advice was provided by partner Alberto Ibort and Beatriz Álvarez Mallo, while partner Pablo Figueroa advised on foreign direct investment (FDI) and antitrust matters.
