Leading student housing platform

Leading in the
Southern European PBSA market

+ 0

beds in ESAF

+ 0

sqm of surface area

+ 0

residents

A compelling gateway to the Southern European PBSA Market

Best-in-class properties in prime locations across Spain and Portugal.
High renewal rates and natural hedge against inflation.
National consolidation champion of a fragmented student accommodation market with an unparalleled track record of growth.
Highly resilient and affordable offering.
Leading GP franchise with strong alignment and proven track record of delivering superior returns.
Strong cash flow generation leading to attractive returns, targeting 10%+ net IRR and 5%+ stabilised net distribution yield.
Unique opportunity to participate in the recapitalisation of the largest private freehold student accommodation property portfolio in Spain into an open-ended Core+ vehicle and access MiCampus, the sector’s leading student management platform.

38 operating student accommodations

8 under development

Madrid

11 Student accomodations

1635 Beds

Barcelona

1 Student accomodations

382 Beds

Valencia

5 Student accomodations

1064 Beds

Sevilla

3 Student accomodations

420 Beds

Bilbao

2 Student accomodations

378 Beds

Málaga

1 Student accomodation

212 Beds

About ESAF

European Student Accommodation Core Fund SCA SICAV-RAIF (the “Fund” or “ESAF”) is an evergreen real estate investment fund managed by SPI General Partner S.a r.l. (the “GP”) and established to aggregate a leading portfolio of student housing and related assets across Spain, Portugal and Italy.

Comitted to excelence

“micampus Burgos Centro está situada en pleno centro. La cama es excepcionalmente cómoda! Lo elegimos porque admitían mascotas y un acierto. Lo mejor, el personal, de 10!.”

Te Sua Fer

Burgos student

“Estoy encantada con micampus Armendariz, llevo 3 años y jamás he tenido problemas, el trato del personal es muy atento, la limpieza es excelente y se encuentra cerca de la facultad.”

Nuria Marin

Seville student