Cristóbal de Moura: Barcelona Student Housing Asset Acquired by Ardian & Rockfield
Deal News | Mar 12, 2025 | Henderson Equity Partners
Ardian, in collaboration with Rockfield, has acquired a student housing asset named Cristóbal de Moura in Barcelona, marking their first joint acquisition in Spain. This deal is part of their pan-European strategy focused on Purpose-Built Student Accommodation (PBSA), following an initial commitment of €500 million. The acquisition aligns with Ardian and Rockfield's strategy of enhancing asset operational performance and contributing to carbon emission reductions. Cristóbal de Moura features 347 student beds alongside a 3,600 sqm office building, both certified for sustainable building practices. Henderson Park and Hines originally developed the property, recognizing a high demand for student accommodations in Barcelona. Ardian and Rockfield intend to strengthen their stance in the Spanish market, driven by a strong belief in the fundamentals of the PBSA sector.
Sectors
- Real Estate
- Private Equity
- Student Housing
Geography
- Spain – Cristóbal de Moura, the acquired asset, is located in Barcelona, Spain.
- Europe – The PBSA strategy by Ardian and Rockfield is pan-European, with projects across multiple European countries.
Industry
- Real Estate – The article involves the acquisition of a real estate asset, specifically student accommodation in Barcelona.
- Private Equity – Henderson Park and Ardian are private equity firms engaging in acquisition and strategic deployment of assets.
- Student Housing – The specific asset acquired is a purpose-built student accommodation facility, indicating a focus on the student housing sector.
Financials
- 500 million – The initial commitment amount for Ardian and Rockfield's pan-European PBSA strategy.
- 800 million – The amount of dry powder available for Ardian and Rockfield's strategy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardian | Buyer | Company | A world-leading private investment house and participant in the acquisition of the student accommodation in Barcelona. |
| Rockfield | Buyer | Company | A vertically-integrated student housing platform, partnering with Ardian in the acquisition. |
| Cristóbal de Moura | Target Company | Company | The student accommodation asset acquired by Ardian and Rockfield in Barcelona. |
| Henderson Park | Seller | Company | An international private equity real estate firm, one of the developers and sellers of the property. |
| Hines | Seller | Company | An international real estate firm that co-developed and sold the student accommodation asset. |
| CBRE | Advisor | Company | Acted as commercial and technical advisor for Ardian and Rockfield. |
| Garrigues and Linklaters | Legal and Tax Advisor | Company | Provided legal and tax advisory services to Ardian and Rockfield. |
| PwC | Financial Advisor | Company | Provided financial advisory services to Ardian and Rockfield. |
| Cushman & Wakefield | Commercial Advisor | Company | Assisted Henderson Park and Hines as commercial advisor. |
| Ashurst | Legal and Tax Advisor | Company | Provided legal and tax advice to Henderson Park and Hines. |
| Deloitte | Financial Advisor | Company | Financial advisor for Henderson Park and Hines. |