The Canada Pension Plan Investment Board is acquiring student-housing firm in Iberia from a private real estate fund controlled by Brookfield Asset Management for $720 million.

If all goes according to plan, CPPIB will purchase the purpose-built student accommodation (PBSA) platform through its Nido Living subsidiary. CPPIB acquired Nido Living in 2024.

The platform, known as Livensa Living, operates across Iberia. CPPIB said the proposed deal will increase Nido’s bed count across Europe to 13,000, making the firm one of the largest student-housing operators in Europe.

The proposed transaction will also further Nido’s goal of growing to 25,000 beds across Iberia, Italy and Germany by 2031.

“This is a significant strategic acquisition for Nido and demonstrates CPP Investments’ ongoing commitment to European PBSA – a sector that provides strong risk-adjusted returns for the CPP Fund. Livensa is a high quality PBSA platform and the acquisition complements Nido’s position in Iberia, a growing market with attractive outlook,” said Thomas Jackson, Head of Real Estate Europe at CPP Investments.

“This is a significant strategic acquisition for Nido and demonstrates [CPPIB’s] ongoing commitment to European PBSA – a sector that provides strong risk-adjusted returns for the CPP Fund,” said Thomas Jackson, CPPIB’s head of European real estate. “Livensa is a high- quality PBSA platform and the acquisition complements Nido’s position in Iberia, a growing market with attractive outlook.”

The transaction is expected to close by year-end 2025, subject to customary closing conditions.

Pictured: Livensa student-housing suite in Iberia.

Photo: Livensa/Brookfield Asset Management