PGGM to acquire RESA from Greystar, AXA IM and CBRE.

PGGM, an asset manager, agreed to acquire RESA, a student accommodation group, from investors Greystar Real Estate, AXA Investment Managers and CBRE. Financial terms were not disclosed. “RESA is Spain’s leading student accommodation portfolio, with more than 30 years of track-record, an excellent management team in place and considerable growth potential in one of Europe’s most undersupplied student housing markets. It will provide stable and inflation-linked returns to our clients like pension fund PFZW," Stuart Bousfield, PGGM Investment Director.