PGGM Infrastructure Fund, the Netherlands based open-end investment fund, is to acquire an undisclosed stake in Resa Residencias de Estudiantes, the Spain based hall of resicences mangement company from Greystar Real Estate Partners, the United States based lessor of residential real estate property.
The consideration was €900m.
The acquisition is subject to obtaining merger clearance approvals from the Spanish Antitrust Authorities
Freshfields Bruckhaus Deringer is advising PGGM Infrastructure Fund Fernando Soto, partner of Global Transacions Real Estate, led the transaction, with the support of counsel Ana Julia García and associate Carolina Vergara. Of counsel Ignacio Borrego and senior associate Ana Calvo also participated in the transaction, advising on the public law aspects; partner Ana Lopez and senior associate Victoria Bobo, on Global Transacions Finance; and partner Sílvia Paternain and associate Carmen Delgado on Tax.
Garrigues is advising Greystar Real Estate Partners.