Student accommodation platform Nido Living has completed the €210m refinancing of its Iberian portfolio with Aareal Bank.
The portfolio comprises 3,000 beds across Madrid, Seville, Valencia, Lisbon and Porto, and Nido said the refinancing marks a strategic step in its long-term ambition to own and operate 25,000 beds across continental Europe by 2031.
Ryan Lee, chief financial officer at Nido Living, said: “We are very pleased to have completed our first refinancing since being acquired by CPP Investments in April 2024. The quality of our financing partner is testament to the strength of Nido’s PBSA assets, the credibility in our ability to deliver our long-term growth strategy, and the continued confidence in the PBSA sector across the region. This transaction reinforces our position as a leading PBSA platform in the Iberian market and across Europe.”
Nido was advised by Eastdil Secured, Clifford Chance, PJLM and KPMG.
