Nido Living, backed by CPP Investments, has agreed to acquire Brookfield Asset Management’s Iberian student housing platform, Livensa Living, in a €1.2bn deal that marks one of the largest private equity transactions in Europe’s purpose-built student accommodation (PBSA) sector this year.

The acquisition significantly scales Nido’s European presence, bringing its total portfolio to over 13,000 beds and supporting its ambition to reach 25,000 beds by 2031. Prior to the deal, Nido held around 3,000 beds across Madrid, Seville, Valencia, Lisbon, and Porto.

Livensa, acquired by Brookfield in 2019, includes approximately 9,000 beds across 20 operational properties and two under development in key Spanish and Portuguese university cities. The platform has become a benchmark brand in the Iberian PBSA market.

“This acquisition marks a significant step forward for Nido, reflecting the scale of backing from our shareholder CPP Investments and our debt partners,” said Carlo Matta, CEO of Nido Living.

Nido secured approximately €700m in debt financing for the deal, underscoring the institutional confidence in its vertically integrated model. J.P. Morgan served as sole financial advisor, with legal, tax, and strategic support from Clifford Chance, Savills, KPMG, and AlixPartners.

The transaction is expected to close in Q4 2025 and positions Nido as one of Europe’s fastest-growing PBSA platforms.

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