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Campo Pequeno to Receive New Development with 390 Beds for Students and 250 Flats

28 November 2018

TPG Real Estate and Round Hill Capital have acquired a nearly 39,000-square meter plot of land in  ​​Campo Pequeno, where they will develop homes and student housing.

A new real estate development is coming to the Portuguese capital. TPG Real Estate and Round Hill Capital have acquired a roughly 39,000-square meter plot of land in Campo Pequeno, where they plan on building both permanent and temporary residences. In addition to 250 flats, the development will include student housing.

The project, located in Campo Pequeno, in the centre of Lisbon, will have the “capacity for 390 beds for students and about 250 flats. The student residence will include study rooms and leisure areas as well as stores open to the residents,” the two firms announced in a statement. The new development will be located “within walking distance of the University of Lisbon’s campus and other universities, institutes and business schools.”

Once built, the student residence will be managed by Nido Student, a unit of Round Hill specialising in this type of project in Europe.

The project is the two companies’ first joint venture in Portugal, “a country seeing solid economic growth, with positive dynamics in the residential segment and offering reliable indicators for real estate investment,” the statement said.

“We are seeing growing demand for high-quality residences with a good location in Lisbon, leveraged by the robust economy in Portugal. We are convinced that TPG Real Estate’s extensive experience in this industry … and Round Hill’s knowledge of the residential market, including student accommodation in Europe, will create a dynamic partnership that places us in an excellent position in this market segment, Michael Abel, a partner at TPG Real Estate, said in a statement.

This is not Round Hill’s first foray into Portugal. In June of last year, the company invested 100 million euros in a project that includes student residences, apartments, a supermarket, restaurants and office space.

Original Story: Economia Online – Rita Neto

Translation: Richard Turner