CCSL Advogados Advises on €375M Joint Venture Between King Street & ALEA.
CCSL Advogados has advised on the creation of a joint venture between King Street Capital Management and Alea Capital Partners, aimed at investing up to €375 million in a student housing platform.
The partnership combines ALEA's expertise in alternative asset management with King Street's investment prowess to enhance ALEA's build-to-rent platform, focusing on student accommodation.
The joint venture will see the development of three student housing properties across major university cities in Portugal, covering a total area of 36,000 square meters. This collaboration seeks to meet the growing demand for quality, long-term student housing solutions in Europe’s top academic hubs.
Legal and tax aspects of the transaction were managed by CCSL Advogados, with a team led by corporate of counsel Frederico Félix Alves. The team also included partners José Calejo Guerra (tax), João de Lemos Portugal (real estate), and Rita Rendeiro (regulatory and compliance), as well as lawyers Mariana Alves de Melo and Lourenço Noronha Andrade. The firm played a crucial role in structuring the deal, ensuring compliance with local and international regulations.
Eastdil Secured, a global real estate investment bank, provided financial advisory services, optimizing the capital structure for the joint venture.
This joint venture represents a strategic move to tap into the booming student housing market, which is seeing increasing demand for purpose-built, managed accommodation. By focusing on build-to-rent properties, King Street and ALEA are well-positioned to address the needs of students and investors alike. With legal guidance from CCSL Advogados and financial expertise from Eastdil Secured, the project is set to make a significant impact on the student housing sector in Portugal.
Roey Shoef, Co-Founder of Alea Capital Partners, said: “This partnership marks an exciting new chapter in our Alternative Living Solutions strategy, to provide high-quality housing for different uses, as students and families, starting in Portugal. Our model and proven product-market-fit with the “Andy” student living brand, will assist with increasing the supply of much lacking accommodation options.”
