Stoneshield invests €50 million in two Porto students residences
Stoneshield Capital, managed by Filipe Morenés – the son of the President of Santander, Ana Botín – and Juan Pepa, has invested €50 million in acquiring two 500-bed university residences in Porto.
The two residences in question are Big City Asprela and Milestone Porto Asprela, according to an announcement from Stoneshield on Wednesday.
The purchase was secured via ESAF (Evergreen Student Housing Core+), a fund supported by Stoneshield Capital and financed by institutional investors of UBS Asset Management.
The two residences are close to the Asprela University Campus, have 500 beds, with premium rooms and shared spaces, fulfilling the fund’s sustainability requirements. They will be managed by Micampus that manages another 46 residences held by ESAF, spread over 24 cities in Spain and Portugal.