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Urbania International unit, Invesco enter €250M student housing JV

Property company Urbania International Investments SL's Syllâbus unit and Invesco Real Estate entered into a €250 million joint venture to establish a largely Spain-focused student housing platform, IPE Real Assets reported.

Under the deal terms, Syllâbus' four under-development projects in Madrid, Valencia and Málaga will be immediately incorporated into the joint venture and will be supplemented with six additional projects, to take the total number of rooms in the platform portfolio to 2,000.

The joint venture aims to lift the overall number of rooms to 3,500, spread across university cities in Spain and Portugal.

Syllâbus will be the project developer and also operate the residences under its own brand.