Nido Living completes refinancing of Iberian PBSA portfolio
Specialist student-led accommodation platform Nido Living has successfully completed the refinancing of its existing Iberian portfolio. The €210 million debt facility has been secured with Aareal Bank acting as lender and agent for the transaction.
27 August 2025 • 1 min read
- Strategic refinancing strengthens platform for continued European expansion
- The deal consolidates the finance on Nido’s existing ~3,000 beds across 10 Student Accommodation assets in Spain and Portugal
- ~€210 million debt financing package committed with Aareal Bank as lender and agent
- Refinancing follows the announcement of Nido’s landmark €1.2 billion acquisition of the Livensa portfolio which will add ~9,000 new beds in Iberia
Europe, 27 August 2025 – Specialist student-led accommodation platform Nido Living has successfully completed the refinancing of its existing Iberian portfolio comprising ~3,000 beds across Madrid, Seville, Valencia, Lisbon, and Porto. The €210 million debt facility has been secured with Aareal Bank acting as lender and agent for the transaction.
The refinancing marks a strategic step in Nido’s long-term ambition to own and operate 25,000 beds across continental Europe by 2031. It follows Nido’s announcement of a landmark €1.2 billion acquisition of Livensa Living, which will add ~9,000 beds across Spain and Portugal. That transaction will expand Nido’s Iberian footprint significantly, bringing its total owned European portfolio to over 12,000 beds by Q4 2025.
The move also reinforces Nido’s ongoing growth strategy across other key European PBSA markets. In addition to expanding in Iberia, Nido plans to enter Italy and Germany, with acquisition opportunities underway and a new country head for Germany - Daniel Havers - recently appointed.
Ryan Lee, Chief Financial Officer at Nido Living, added: “We are very pleased to have completed our first refinancing since being acquired by CPP Investments in April 2024. The quality of our financing partner is testament to the strength of Nido’s PBSA assets, the credibility in our ability to deliver our long-term growth strategy, and the continued confidence in the PBSA sector across the region. This transaction reinforces our position as a leading PBSA platform in the Iberian market and across Europe.”
Since being acquired by CPP Investments in April 2024, Nido has made several strategic leadership hires to strengthen and support its European expansion. In addition to Daniel Havers, these include CEO Carlo Matta, CFO Ryan Lee, CIDO Taco van Heusden, COO Joanne Pollard, and Head of Italy Giuseppe Zafferri, together with Board Chair Beatrice Lafon, and NED Rosemary Boot.
Nido was advised by Eastdil Secured L.L.C. as sole financial advisor, Clifford Chance and PJLM as legal advisors, and KPMG.
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