Ardian, a world-leading private investment firm, and Rockfield Real Estate, a vertically integrated living platform, consolidate their position in the student living sector with a new investment, a 369-bed student accommodation asset located in Terrassa (Barcelona). This marks the second deal in Spain, after the acquisition of Cristóbal de Moura 196 in Barcelona, and the seventh deal closed by Ardian and Rockfield in just eight months since the launch of their pan-European Purpose-Built Student Accommodation (PBSA) strategy.
The asset comprises a seven-floor building located on the site of the former AEG factory in Terrasa, Avinguda Jaume I, 60, acquired from ACCIONA Living & Culture. With its extensive experience in residential development, ACCIONA has transformed the site into a masterplan that will feature residential, tertiary uses, green spaces and over 3.500 sqm of retail.
The recently completed asset, which includes 358 rooms and almost 3,000 sqm of indoor and outdoor amenities, will be a reference in the city for university housing.
Located in close proximity to the main university centers and the Nord train station, the asset provides excellent connectivity to the city center and Barcelona. The property has been designed to offer a sustainable, modern living environment, with spacious, fully furnished rooms, gym, canteen, swimming pool and large gardens and green areas.
“Spain presents a highly attractive student-to-bed ratio, reflecting strong demand and limited supply. In Terrassa, there are currently just 315 beds available for an estimated demand of 2,200. Existing options are outdated and lack the premium services students increasingly expect. This asset represents a unique opportunity to enter the PBSA market in Catalonia’s second most important university city, in a prime location. It fully aligns with our investment strategy, meeting top international standards of quality and sustainability.” Edmund Eggins, Managing Director, Real Estate, Ardian
“This acquisition perfectly fits our strategy of targeting acquisitions and forward-funding opportunities of best-in-class PBSA schemes. This investment represents a strategic step in our long-term European vision dedicated to Purpose-Built Student Accommodation, a rapidly growing sector that is increasingly central to urban transformation.” Juan Manuel Acosta, CIO Rockfield Real Estate
ABOUT ARDIAN
Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.
ABOUT ROCKFIELD REAL ESTATE
Rockfield was established in 2014 with a clear mission to create high quality and sustainable housing solutions for students, young professionals and families in urban areas. Our founders recognized the growing demand for affordable housing in major cities, coupled with an increasing need for innovative living concepts that not only provide a place to live but also enable residents to grow and thrive within a community.
With this vision in mind, Rockfield started a journey to build a fully integrated real estate company. From the start, we chose to keep all aspects of real estate management in-house, from project development and acquisition to investment and property management. This approach has allowed us to offer tailored solutions that meet needs of both investors and tenants.
Since our inception, we have experienced impressive growth and evolved into a leading investment manager with a portfolio of over €2 billion in assets under management and around 8,000 housing units across various European cities.
ABOUT ACCIONA LIVING & CULTURE
ACCIONA Living & Culture is a global company that combines innovative urbanism and culture to develop sustainable projects around the world. With more than 30 years of experience and presence in over 40 countries, the company has created responsible urban solutions that include residential complexes, iconic offices, interior design projects and logistics spaces, as well as museums, exhibitions, immersive experiences and sports and entertainment events. Notable cultural projects developed by ACCIONA Living & Culture include the Grand Egyptian Museum, the House of European History Museum in Brussels and the Qatar Olympic & Sports Museum. In the residential sector, it has developed more than 13,000 homes in Spain, Mexico, Poland, Portugal and Brazil, as well as offices and major logistics projects.
ACCIONA is a global company and a leader in the provision of regenerative solutions for a decarbonized economy. Its business offer includes renewable energy, water treatment and management, eco-efficient transportation and mobility systems, resilient infrastructures, etc. The company has been carbon neutral since 2016. ACCIONA recorded sales of €17 billion in 2023 and has a business presence in more than 40 countries.
