Canadian pension fund CPPIB has mandated broker Savills to sell its Galileo Galilei student housing facility in the Spanish city of Valencia, PropertyEU has learned.
The sale, which was first reported by Spanish paper Expansion and was confirmed by PropertyEU's market sources, involves the largest student accommodation asset in the city, with over 500 beds.
The asset is expected to fetch over €30 mln.
It was part of the Liberty Living portfolio acquired by CPPIB in March 2015 for £1.1 bn (€1.2 bn). In late 2016, the platform expanded to continental Europe with the acquisition of 12 purpose-built residences including Galileo Galilei for a combined €460 mln.