Morgan Stanley fund buys two Vita Student assets in Spain

Morgan Stanley Real Estate Investing has acquired two PBSA buildings in Barcelona from UK company Vita Group, on behalf of a fund which it manages.

The two Vita Student buildings provide a total of 624 beds. Vita Student Pedralbes, which has 274 studio apartments, was Vita Group’s first development outside the UK and opened in September 2022. The asset  is accessible for the IESE and ESADE business schools as well as the Universitat de Barcelona and Universitat Politècnica de Catalunya.

Amenities include terraces, roof gardens, a pool, indoor and outdoor gyms, co-working space, socialising space and social kitchens.

Vita Student Poblenou is located in the city’s 22@ district. It opened in September 2023 and has 349 studio apartments, a rooftop pool and amenities that include social spaces, co-working spaces and private dining rooms.

Vita Student will continue to operate the buildings on behalf of MSREI.

Vita Group chief investment officer Ioannis Verdellis said: “Spain, and specifically Barcelona, have enjoyed significant student growth over the last decade, attracting top talent from around the world to study at their leading institutions. Vita Student Pedralbes and Poblenou are perfectly placed to service Barcelona’s active market and the businesses’ performance since opening our first scheme in 2022 is testament to this.”