The National Commission on Markets and Competition (CNMC) had launched a second phase of investigation into the transaction. The regulator found that the buyer already operated another facility in the same area, which would have resulted in controlling between 70% and 80% of the student housing supply within a 30-minute walking radius of the campus.

The antitrust authority warned that such market concentration could lead to price hikes or a decline in service quality for students. In response, the investment fund proposed commitments to cap rental rates for the 2026-2027 academic year, but the CNMC deemed these measures insufficient.

The inability to reach an agreement on the required adjustments and the expiration of financing deadlines led to the termination of the purchase contract at the end of March. Following the fund's formal withdrawal, the regulator closed the case on May 4.