Greystar expands in Spain with the acquisition of two student housing assets

Greystar, a global leader in real estate investment, development and management, has acquired a portfolio of two purpose-built student accommodation (PBSA) assets in Spain from Straco Real Estate. The assets are located in Salamanca and Valencia, two of the country’s leading university cities, and add approximately 1,600 beds to Greystar’s portfolio, which now totals around 3,000 beds in Spain.

The transaction strengthens Greystar’s position in the Spanish PBSA market, which continues to attract institutional investors due to the structural imbalance between supply and demand. The assets meet high sustainability standards and will operate under Canvas, Greystar’s pan-European brand for students and young professionals, launched in 2021.

Jones Day advised Greystar on the transaction, delivering a full-service approach through a multidisciplinary team led by Javier Muñoz Méndez (Real Estate partner, Madrid), alongside Raimundo Ortega (Competition partner, Madrid), Blanca Puyol (Corporate partner, Madrid), Vidal Galindo (Employment partner, Madrid), Luis López Claver (Real Estate counsel, Madrid), Ángel Magdaleno (Urban Planning counsel, Madrid), Javier Gutiérrez (Employment counsel, Madrid), and associates Carolina Naranjo, Jorge Cantón, Eduardo Ortega, Victoria Paredes, Laura Sánchez and María Conejero.