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Aareal refinances Madrid student residence for €45 million
28 October 2026 | Refinancing | Spain | 317 beds | Operational
Proprium Capital Partners has secured green financing for Collegiate Madrid Chamartín, a 317‑bed operational student residence delivered in 2025.
Key details
Asset type | Operational |
Location | Madrid, Spain |
Capacity | 317 beds |
Borrower | Proprium Capital Partners |
Lender | Aareal Bank |
Value | €45 million |
Source: Aareal Bank (LinkedIn)
Delivered in 2025 and operated by Collegiate, the BREEAM "Excellent" certified asset includes study and co‑working areas, a gym, a cinema room, and communal lounges. Aareal acted as arranger, facility agent, and security agent under its Green Finance Framework.
Strategic context
This agreement expands the lending relationship between Aareal and Proprium into a second European market, following their €173 million debt package for two PBSA assets in Milan. By refinancing a fully delivered, operating asset, Proprium, part of L&G Asset Management, strengthens its existing operational portfolio in Spain alongside its operating partner, Collegiate.
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