Hines acquires Residencia Marte turnkey, our PBSA project in Móstoles
The student residence in Móstoles that we financed last September (Residencia Marte) is taking a decisive step forward: Hines has acquired the project on a turnkey basis to incorporate it into its living platform in the Iberian Peninsula.
The transaction is especially relevant for two reasons: it confirms institutional interest in PBSA (purpose-built student accommodation) in Madrid and, for Urbanitae, it marks a visible milestone in our commitment to tertiary assets and CRE strategies, alongside some of the sector’s most solid names.
A ‘prime’ and sustainable PBSA project next to URJC
The asset is located in Móstoles (Madrid), in a strategic enclave next to Universidad Rey Juan Carlos and opposite the university hospital. It will feature 339 beds across 304 rooms and a gross built area of 11,933 m².
It will be operated by Aparto, Hines’ international platform for student residences and flex living.
In terms of services, the project includes the modern residence standard: outdoor pool, padel court, gym, coworking, study areas, multi-purpose rooms, lounge areas, laundry and community living spaces, among others.
Beyond market fit, the asset has been conceived under sustainability and wellbeing criteria and aims for certifications such as BREEAM Excellent, WELL Gold and EU Taxonomy alignment.
In a segment where both the operator and the institutional buyer scrutinize the final product, this approach is not a “nice-to-have”: it is part of what makes an asset investable and financeable on the best terms.
What does a turnkey sale imply?
In a value-add project like Residencia Marte, the objective is to develop an asset with structural demand and sell it to an institutional investor once the process is completed—or at an agreed milestone. That is exactly what this transaction represents: a global buyer, with an operating platform, backing the project in Madrid.
Hines itself frames the transaction as its entry into PBSA in Madrid and a reinforcement of its living strategy in Iberia.
Urbanitae, alongside institutional capital
From Urbanitae’s perspective, this transaction validates a key idea we’ve been defending for a long time: retail capital can co-invest in institutional transactions, with the same discipline the professional market demands in terms of structure, milestones, risk analysis and execution.
The recent authorization of Urbanitae as a management company reinforces this vision. It represents a step forward in our ability to structure, analyze and support increasingly sophisticated real estate investments, aligning regulatory, operational and corporate governance standards with what large institutional investors require.
A transaction with ‘tier 1’ advisors
The press release details an advisory team that is highly representative of this type of deal:
CBRE advised Hines on commercial and technical due diligence.
Garrigues acted as legal and tax advisor, and Deloitte led the financial due diligence.
For the developer (Nero Quality Consulting), JLL and Evergreen participated as advisors.
For Urbanitae, being present in a transaction with this ecosystem is a natural showcase of the kind of CRE deals we want to keep driving forward.
Why this milestone matters
The closing of the turnkey sale of Project Marte reinforces, first and foremost, the PBSA thesis in Madrid: structural demand supported by university mobility, upward pressure on rents, and the need for product specifically designed for students. At the same time, it highlights Urbanitae’s role in institutional transactions for tertiary assets, where co-investment, sophisticated structures and disciplined execution are essential. Finally, it underscores the value of the work behind the project—product design, sustainability criteria, financial structuring and milestone management—which is where value is truly created in this type of development.
Hines’ entry as an institutional buyer is especially significant. Hines is a global real estate investment, development and asset management firm, with an established international presence and a very active strategy in living and alternative assets. Its commitment to this project in Móstoles, within its Iberian platform, is an external validation of the asset’s appeal, its location and the development approach.
From here on, we will continue updating investors on the project’s progress as milestones are met—permits, bank financing, construction and timeline—maintaining the level of transparency and detail that an operation of this nature requires.
