King Street and ALEA Forge €375M Joint Venture in Student Housing
Deal News | Nov 08, 2024 | Iberian Lawyer
CCSL Advogados has played a pivotal role in advising the establishment of a joint venture aimed at revolutionizing the student housing sector. The strategic partnership involves King Street Capital Management, a notable investment management firm with substantial experience in equity and debt investments, alongside ALEA, a company intent on addressing the housing market's supply-demand imbalance. The joint venture aims to invest a striking €375 million into developing a student housing platform across Europe, beginning with three key asset developments in Portugal encompassing 36,000 square meters. Eastdil Secured lent its expertise as the financial advisor facilitating this transaction. The collaboration demonstrates ALEA’s innovative approach, utilizing King Street's robust investment history to fortify its ambitious build-to-rent model. The team at CCSL Advogados maneuvered through intricate legal and tax concerns, ensuring a seamless foundation for expansion into the student housing arena, confirming Portugal's emergent role in this specialized market.
Sectors
- Real Estate
- Investment Management
Geography
- Portugal – The joint venture's initial projects are focused on student housing developments in key university cities within Portugal.
- Pan-European – The strategy aims to address supply-demand imbalances across the broader European housing market, though initial steps commence in Portugal.
Industry
- Real Estate – The article revolves around investments in real estate, specifically the student housing sector in Portugal.
- Investment Management – King Street Capital Management is an investment management firm, focusing on strategic expansions within disruptive markets.
Financials
- €375M – The total investment amount earmarked for the joint venture focused on student housing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CCSL Advogados | Legal Advisor | Company | Advised on legal and tax matters for the joint venture creation. |
| King Street Capital Management | Investor | Company | Partner in the joint venture, focusing on investment strategies in disruptive real estate markets. |
| ALEA | Investor | Company | Focuses on alternative asset management and leads an innovative Alternative Housing Solutions strategy. |
| Eastdil Secured | Financial Advisor | Company | Provided financial advisory services for the joint venture investment. |