Invesco Real Estate acquires a residential complex in Marbella, South Spain

Invesco Real Estate has acquired a prime, modern complex of 34 terraced houses on a 5,000-square-meter (53,820-square-foot) residential area in Marbella, Spain. The seller was DAZEO, the residential joint venture created by Dazia Capital and Eurazeo Patrimoine.

The recently redeveloped Bahia residential complex of Les Roches, fully refurbished and upgraded in early 2023, sits in a wealthy area of Marbella. It is fully let on a long-term lease to the hospitality school Les Roches, which uses the asset to provide housing for its students. The 34 terraced houses each have between four and six rooms and can accommodate a total of 176 students. In addition, about 1,700 square meters (18,299 square feet) of the site includes a restaurant and amenity spaces such as a gym and terraces.

Les Roches is a highly rated Swiss-headquartered business school that specializes in hotel management. It has more than 2,000 students from more than 100 different nationalities across a number