The regulatory body has identified indications that this transaction could intensify market concentration for student residential accommodation around the Cartuja campus in Seville. Both companies, Greystar and Life Stay Cartuja, operate in this specific market segment in the city, creating an overlap that the CNMC deems problematic in an area with a significant supply of university housing.
During the initial phase of the analysis, the CNMC pinpointed the risk that the acquisition might lead to price increases or a decline in quality and services in that area. Although Greystar submitted proposals to mitigate these effects, the regulator found them insufficient, prompting the move to the second phase of the investigation.
“"This decision does not prejudge the final outcome. The body may gather further information from operators, and both the notifying party and interested third parties will have the opportunity to submit arguments in defense of their interests."
The CNMC's final resolution could either authorize the operation, subject it to commitments or corrective measures, or prohibit it. The acquisition of Life Stay Cartuja is part of a broader strategy by the American real estate firm Greystar, which purchased a portfolio of three student residences in Spain – located in Pamplona, Sabadell, and Seville – from Merkel Capital for approximately 120 million euros, totaling 1,200 beds.
In the case of the Sevillian capital, the acquired asset is the Vibe Sevilla residence, a center with 500 beds situated on the Isla de la Cartuja, between the Superior Technical School of Engineering and the Alamillo Park, and close to the Faculty of Communication and the San Isidoro University Center. This property, inaugurated in April of last year, will be integrated under the Canvas brand, Greystar's European label for students and young professionals.
