Privately held investment firm – Cain International – announces the arrangement of a €74m construction loan to Vita Group and Metrovacesca SA for the development of Vita Group’s flagship 585-bed Vita Student PBSA scheme in Madrid, Spain.
The Vita Student scheme will deliver high-quality amenity spaces including dining rooms, study rooms, a gym, rooftop terrace, and a pool, and will be supported by Vita Student’s industry leading ‘all-in’ living experience. The project is expected to be delivered ahead of the 2026/2027 academic year.
“Madrid’s student sector demonstrates favourable long-term fundamentals, and this transaction represented a unique opportunity to expand Cain’s lending platform to a new market with a longstanding and reputable partner. We have worked closely with the Vita team across multiple PBSA opportunities in the UK and are confident its high-quality product will be an attractive offering in one of Europe’s top student destinations.”Graham Keable, Managing Director, Cain International
The development represents a pivotal phase within the wider Oria Campus, which is being delivered by Metrovacesca SA, a leading real estate developer in Spain. Located in the north of Madrid, the scheme also includes a multifamily Build to Rent tower, office space, and a life science lab spread over an area of c.89,000 sqm. The site also benefits from multiple transport links connecting residents to 15 of Madrid’s universities in under an hour.
“Closing this financing agreement with Cain marks a significant milestone for our flagship Madrid scheme. We look forward to working alongside Cain, and our partners at Metrovacesca SA to deliver one of Madrid’s most dynamic student communities.”Michael Slater, Chief Financial Officer, Vita Group
This loan marks the debut transaction for Cain’s lending platform in the Spanish market and the fifth time it has partnered with Vita Group. Since 2020, Cain has provided c. £400m in construction financing to the group to support its PBSA strategy across key UK university cities including Manchester, Warwick, and Coventry, delivering c.4000 beds.