CCSL advises on €375M joint venture creation
CCSL Advogados has advised the creation of a joint venture between King Street and ALEA to invest up to €375M in Student Housing Platforma. The agreement between ALEA, a company focused on alternative asset management, and King Street Capital Management, a leading investment management firm, aims to accelerate the expansion of ALEA’s Alternative Housing Solutions build-to-rent platform, focused on student accommodation.
The advisors from CCSL oversaw the legal and tax aspects of the transaction, while Eastdil Secured, a global real estate investment bank, served as financial advisor in the formation of the joint venture. Through its branded platform, ALEA and King Street are initiating this partnership with the development and operation of three student housing assets, with a total area of 36,000m², located in key university cities in Portugal.
About ALEA
ALEA has developed an Alternative Housing Solutions strategy focused on the investment, development, and operation of assets through a branded platform, targeting student and family use, specifically designed to address the structural supply-demand imbalance in the pan-European housing market, starting in Portugal.
About King Street Real Estate
King Street Real Estate, the real estate investment division of King Street Capital Management, specializes in equity and debt investments in disruptive markets and complex situations. Since its founding, King Street has completed transactions totaling $15 billion in real estate securities and real estate-related investments, with over $26 billion in assets under management across both public and private markets.
The advisors team
The CCSL Advogados team was led by corporate of counsel Frederico Félix Alves and included partners José Calejo Guerra (tax), João de Lemos Portugal (real estate), Rita Rendeiro (regulatory and compliance) – all pictured from left to right – , as well as lawyers Mariana Alves de Melo (real estate) and Lourenço Noronha Andrade (regulatory and compliance).
CCSL advises on €375M joint venture creation – Iberian Lawyer