18 June 2019 – Eje Prime
Amro Real Estate Partners is planning to invest €500 million to grow its portfolio of student beds in Spain and Portugal to 5,000 over the next 3 years.
The British company, which specialises in investing in and managing student halls is going to undertake the investment in partnership with a family office whose name has not been disclosed. It plans to accumulate between 10 and 15 halls of residence by 2022.
In this vein, the company has just purchased its third asset in Spain, a plot of land with a buildable surface area of 6,000 m2, which will house 229 beds, in the Teatinos neighbourhood of Málaga. Work will start on the construction of that hall of residence in Q1 2020 with completion scheduled in time for the academic year commencing September 2021.
Amro’s two existing assets in Spain are under development and include a hall of residence in Granada, which will contain 354 beds with a buildable surface area of 11,300 m2, and a student hall in Sevilla, which is going to have 341 beds and a buildable surface area of 9,172 m2.
Original story: Eje Prime (by Marta Casado Pla)
Translation/Summary: Carmel Drake