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M&A Transaction•

Nido Living buys Brookfield’s Iberian student portfolio - InforCapital

Nido Living acquires Brookfield’s Livensa portfolio in a €1.2B deal, adding 9,000 beds and advancing its 25,000-bed goal across Europe.

AM
Alvaro de la Maza

Partner at Aninver

Key Takeaways

  • CPP Investments acquired Brookfield Asset Management for $1.3B.
  • Sector: Real Estate.
  • Geography: Portugal, Spain.

Analysis

Nido Living has agreed to acquire Brookfield Asset Management’s Iberian student housing portfolio Livensa Living for €1.2 billion, significantly accelerating its goal of owning 25,000 beds across Europe by 2031.

The transaction adds approximately 9,000 beds across 22 student residences in Spain and Portugal, bringing Nido’s owned European PBSA portfolio to over 13,000 beds. Completion is expected in Q4 2025.

Backed by Canada Pension Plan Investment Board (CPP Investments) and supported by ~€700 million in debt financing from Crédit Agricole CIB, the deal reflects strong institutional backing for Nido’s vertically integrated growth strategy.

“This is a milestone transaction for Nido,” said CEO Carlo Matta. “It reflects both the scale of our ambitions and the quality of support from our equity and financing partners. Livensa is a perfect strategic fit.”

Livensa was originally acquired by Brookfield in 2019 and includes 20 operational PBSA assets and two developments in key Iberian university hubs. The brand has become a benchmark in the regional student accommodation sector.

Since its acquisition by CPP Investments in 2024, Nido has appointed new senior leadership and announced expansion plans in Italy and other core EU markets.

J.P. Morgan acted as sole financial advisor to Nido. Legal and strategic advisers included Clifford Chance, Savills, KPMG and AlixPartners.