Nido Living acquires the Livensa portfolio in €1.2B deal: advisors

Clifford Chance, Morais Leitão and KPMG Abogados have advised Nido Living, a European platform specialising in student accommodation, on the acquisition of the Brookfield-owned Livensa Group in a transaction valued at around €1.2 billion.

This strategic transaction reinforces Nido’s presence in the Iberian market and accelerates its ambition to reach 25,000 beds in continental Europe by 2031. According to the law firm, this transaction could be one the most importants of the real estate market in Spain in 2025.

Advisors

Clifford legal advice was provided by a multidisciplinary team including the offices in Madrid, Amsterdam and London, led by Real Estate partner Carlos Portocarrero (pictured), along with counsel María Pradillo and associates Jorge Barrero, Itziar Kraus and Paula Abad. Partner Felipe Font advised on the financing, together with counsel Carl Fitzgerald and associates Sofía Riaño and Elena Euba, with anti-trust advice from senior counsel Begoña Barrantes and associates Ana Latorre and Juan Valcárcel advising on the insurance angle. Sonsoles Callejo advised on compliance matters.

Morais Leitão advised on all aspects of the transaction relating to Portuguese law, through a multidisciplinary team led by partner João Torroaes Valente from the corporate real rstate department. The advice covered several areas: in corporate real estate, the advice was also provided by partner Rita Ferreira Vicente and senior associates Diogo Mafra and Mafalda Jardine Neto; tax matters were handled by coordinating associates António Queiroz Martins and Raquel Maurício; public law was handled by counsel Miguel Arnaud; in the financing area, partner Filipe Lowndes Marques and associate Ashick Remetula were involved; finally, the competition area was covered by partner Luís Nascimento Ferreira and associate Joana Fraga Nunes.

On KPMG’s side, the tax M&A team provided tax due diligence and structuring services. The team was led by Carlos Marín (Partner), alongside Aida Sobral (Director), Alberto Fernández (Senior Manager), Álvaro Rubio (Associate), and Ana María Muñoz (Collaborator). Additionally, Pelayo Oraa (Partner) and Álvaro Marín (Senior Manager) also contributed to the tax advisory work.