07.12.2020

Practice Areas: Finance, Real Estate

Abreu advises VStudent Aulis, FCR in financing its student residences project in Porto

The law firm Abreu Advogados provided legal assistance to VStudent Aulis, FCR (Fund launched by Bankinter, Valeo Groupe and Plenium Partners) and its Portuguese subsidiaries in the negotiation of a new financing with the relevant bank.

This transaction marks a strategic milestone for VStuden Aulis, FCR in Portugal given that it guarantees the funds required to complete the project comprising 2 towers with 470 beds for student accommodation in the Campus da Asprela, Porto. The project offers a range of different room types and residents benefit from a range of amenities including fully equipped gyms, study areas, laundry rooms and an outdoor pool.

The transaction involved the negotiation of the financing and associated security package, as well as a legal due diligence that included the analysis of real estate, planning and licensing, environmental and insurance matters.

The Abreu team was coordinated by Tiago Mendonça de Castro, partner and co-head of the Real Estate practice and responsible for all due diligence and real estate matters support, and by Rodrigo Formigal, professional partner in the Banking and Finance practice area and responsible for the support provided in the financing.

Valeo Groupe develops, builds, and operates student & senior housing communities in various markets including the UK and Northern Ireland, Republic of Ireland, Scandinavia, USA, Spain and Portugal.

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