The CNMC, Spain's competition authority, has begun a detailed examination of Greystar's acquisition of Life Stay Cartuja S.L., which was notified in December. This acquisition involves Greystar gaining exclusive control over a student residence in Sevilla, currently operated by Yugo Students Spain.

Both companies are active in the purpose-built student accommodation (PBSA) market in Sevilla. The CNMC's initial analysis raised concerns about the potential for increased prices and reduced quality of services in the area surrounding the Cartuja campus, where both companies overlap significantly.

Greystar has proposed commitments to address these competition risks; however, the CNMC has deemed these commitments insufficient. The transition to a second-phase review does not imply any conclusions about the acquisition's outcome. The CNMC may request additional information from the parties involved, and interested third parties can submit their comments to protect their interests.

The final decision by the CNMC could either authorize the acquisition, impose conditions, or prohibit it altogether.