Ageas Portugal Group Buys Student Accommodation in Porto – Human Resources

The Odalys Campus Porto Granjo Centro student housing in Porto has been sold by Xior Student Housing to Ageas Portugal Group. The process was mediated by the consulting company CBRE, which was authorized by the owner to launch, manage and complete the sale of the property, in an exclusive mandate.

According to Sylvie Vanhonacker, Head of Real Estate at the Insurance Group, “Ageas Portugal remains focused on its strategy to diversify Portuguese real estate investment. Thanks to its unique location, high-quality architecture and a strong tenant with extensive experience in student housing management, the Granjo Student Residence managed by Odalys has been A great opportunity to invest capital safely.

The Granjo student residence is located in the Bonfim area, close to Porto city centre, and is 100% leased to Odalys, the tour operator, who manage more than 128 thousand beds between tourism projects, student residences and senior housing. The rehabilitation of the building was completed in 2022 and consists of 212 single rooms, study areas, gym, cafeteria and laundry rooms. Outside there is a garden with seating areas for students.

Legal assistance for this transaction was provided by Cuatrecasas and Sociedade de Advogados, representing the owner, and MLGTS – Morais Leitão, Galvão Teles, Soares da Silva & Associados – Sociedade de Advogados, SP, RL, representing the buyer. KPMG Advisory – Consultores de Gestão, SA provided financial and tax advice to the buyer. The buyers also had DDN- Gestão de Projectos, SA as technical advisors.