June 19, 2024


The Legal System

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Freshfields advises PGGM on the acquisition of RESA

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised PGGM Infrastructure Fund on the acquisition and related third party bank syndicated financing of a 100% stake in RESA (Residencias de Estudiantes), the leading Spanish student accommodation group, Siresa 1 and Siresa 2, from Greystar, AXA IM Alts and investors represented by CBRE Investment Management.

RESA is the largest private and fully vertically integrated student accommodation platform in Spain, with c. 11,200 beds under management, split into 43 projects located in more than 20 cities across the country.

The Freshfields team advising on the deal is led by global transactions real estate partner Fernando Soto, supported by counsel Ana Julia García and associate Carolina Vergara. Global transactions finance partner Ana López advised on the financing aspects of the acquisition, with support from senior associate Victoria Bobo. Counsel Enrique Carrera advised on the merger control and foreign investment aspects of the acquisition with support from senior associate Álvaro Puig. Partner Sílvia Paternain, advised on the tax aspects of the deal, supported by associates Carmen Delgado and Javier Sánchez. Counsel Ignacio Borrego advised on the public law aspects, with support from senior associate Ana Calvo.