Temprano Capital Partners to Double its Portfolio of Student Residences in Three Years

25 April  2019 – Eje Prime

Temprano Capital Partners, a Spanish investment firm, plans to double its portfolio of student residences, through its subsidiary Temprano Student Living (TSL). The planned investments would increase its portfolio to more than 7,000 beds within three years.

TSL currently has 3,500 beds spread between ten ongoing projects, including those under development and others in operation. TSL’s student residences are located in Lisbon, Porto, Coimbra, Barcelona, ​​Granada, Seville and Valencia.  TSL plans to open two new developments in Barcelona and Porto by the end of 2019, in partnerships with CPA 18 Global and Carey European Student Housing Fund.

The Barcelona residence is located ​​next to the Finistrelles shopping center. The 10,500-m2 asset will consist of 372 studios. The project in Portugal will have 580 studios spread over a 20,000-m2 area.

Original Story: Eje Prime

Translation/Summary: Richard D. Turner

Amro Acquires Building for Future Student Residence in Seville

7 February 2019

The British company, which specialises in student residences, has plans for 5,000 new beds in Spain and Portugal, 3,000 of which are already under negotiation.

Amro Real Estate is going through its paces. The British company specialising in the development and management of student residences has just acquired a building in Seville where it will create accommodations for 332 university students, another step in the company’s expansion plans for Spain.

The company estimates that the refurbishment of the 9,300-square-meter building will begin this summer. The residence is expected to open in January 2021, with common areas, group study areas, a dining room, gym and parking.

Amro, which consulted with CBRE, was attracted to the complex’s location. Situated between the campuses of the universities of Seville, Pablo Olavide and Loyola Andalucía, it could serve any of the 38,600 students enrolled in the three schools.

Original Story: EjePrime

Translation: Richard Turner

URJC to Build 2 Halls of Residence in Fuenlabrada and Móstoles

28 January 2019 – La Vanguardia

The Universidad Rey Juan Carlos (URJC) announced today the construction of two new lecture halls, on its campuses in Aranjuez and Fuenlabrada, as well as the construction of two new halls of residence for students during the course of 2019, which will be located in the towns of Fuenlabrada and Móstoles.

The news was announced this morning by the rector of the university, Javier Ramos, during a speech (…) in which he highlighted that the new facilities “will benefit the more than 46,000 students at this public university in Madrid”.

Ramos explained that building work has already started on the new lecture hall on the Aranjuez campus – and that it will be followed soon by another new lecture hall on the Fuenlabrada campus. He added that, during the course of this year, work will also start on the construction of two halls of residence, one in Fuenlabrada and one in Móstoles.

Moreover, the rector revealed that work is also being performed on projects to construct new buildings on the Móstoles and Alcorcón campuses, as well as to renovate the property that the university recently acquired on Calle de Buen Suceso in Madrid (…).

Ramos reiterated that the URJC is positioned “at the forefront of research”, citing data from the Times Higher Education World University Ranking (THE), which “places the URJC as the third university in Spain, due to the impact of its publications, based on citations from its scientific articles, with a score of 68.5 out of 100)” (…).

Original story: La Vanguardia 

Translation: Carmel Drake

Amro Buys Sevillan Development in Iberian Roll-out

25 January 2019 – EGI

London-based investor Amro Real Estate Partners has bought a site in Sevilla, marking its second acquisition within its student housing platform in Spain and Portugal.

The deal forms part of the company’s strategy to create a 5,000-bed investment platform in the region.

Last year, Amro appointed CBRE to search for a student housing joint venture partner to undertake a €300m (£261m) capital investment in its Iberian expansion.

At the same time, it invested in a 360-bed student housing development site in Granada, which will launch in early 2020.

The site in Sevilla measures around 100,000 square metres (…).

Original story: EGI (by Pui-Guan Man)

Edited by: Carmel Drake

Henderson Park and Hines Aquire Barcelona Student Housing Scheme (ES)

Monday, 13 August 2018

Henderson Park, the European real estate investment platform founded by Nick Weber, and Hines have completed the acquisition of a site to develop a 750-bed student housing project in Barcelona, Spain. This is Henderson Park and Hines’ second student accommodation investment together following an earlier project in Lancaster, UK, and forms part of their joint venture to pursue value-added opportunities in the sector across Europe. The purchase price was not disclosed.

Occupying half of a city block in the 22@ Innovation District on the edge of Barcelona’s desirable neighbourhood of Poblenou, the joint venture’s latest project will see the development of a 20,000m², 750-bed student housing scheme, just 15 minutes’ walk from nearby university campuses. The JV is targeting to deliver the scheme for the 2021/2022 academic year.

The finished scheme, ‘Aparto Diagonal Mar’, will incorporate a range of shared amenities including a swimming pool, gym and sports facilities. Hines’ in-house operating platform, Aparto, will manage the asset once operational, to ensure an enhanced experience for its student residents.

Nick Weber, Founding Partner of Henderson Park, said: “The Spanish market, and Barcelona in particular, presents highly attractive supply and demand dynamics for an investment into the student accommodation sector, and we’ve identified a clear appetite for the kind of high-quality purpose-built product we plan to deliver in this transforming neighbourhood of Barcelona. We are pleased to further extend our partnership with Hines as student housing is an asset class with compelling underlying fundamentals across a range of different European cities.”

Lars Huber, CEO of Hines Europe, said: “The fundamentals of Barcelona’s student housing market are very strong, with an undersupply of quality accommodation, despite the popularity of its universities. 22@ Innovation District is set to provide a memorable living experience and is the ideal location for our Aparto management platform, with its strong placemaking and community focus. This investment demonstrates our commitment to the student housing sector as we continue to look for opportunities in core cities across the UK and Europe with growing and dynamic student populations.”

Original Story: http://europe-re.com/henderson-park-and-hines-acquire-barcelona-student-housing-scheme-es/65522

 

GSA With ‘High Honours’ in Spain: Investments of €300 million for New Acquisitions

2 November 2017

GSA’s overall objective is to have 250,000 beds under management by 2025. Barrelling into the Spanish market, it plans to manage 10,000 beds within the next five years.

GSA, a British group specializing in student residences business, has a strong presence in the Spanish market and intends to keep it that way. The company is planning its route in Spain, in which it plans to invest around 300 million euros over the next five years in adding 10,000 beds to its portfolio, as Christopher Holloway, CEO of GSA in Spain, and Miguel Muñoz, GSA’s director of real estate acquisitions, explained to EjePrime.

GSA’s initial foray into Spain was through Nexo, a company that it acquired mid-year from Threesixty Developments, a firm owned by funds managed by Oaktree Capital Management. Nexo took its first steps in the hands of Holloway and Muñoz with the purchase of the Residencia Galdós in Madrid.

In the following years, Nexo acquired more assets in Madrid, Alcalá de Henares and Barcelona. “GreenOak wanted to leave the shareholding since its horizon in the company was five to seven years, and GSA wanted to start operating in Spain,” the executive added. GSA, which sees its investment in Nexo as “something long-term”, is now ready to grow in Spain through the acquisition of new real estate assets where they can develop their business.

While GSA’s overall goal is to have 250,000 beds under management by 2025, barrelling into the Spanish market, the plan is to manage 10,000 beds within next five years. For this, the group foresees an investment of between 300 million euros and 350 million euros, although “it could grow,” meaning that it is an “approximate, not closed” investment figure.

GSA currently manages two projects in Barcelona that will involve an investment of almost 60 million euros

“To carry out our plan for the coming months, we focused our objective on three main tracks: one part would be the purchase of land for the development of new student residences; another the acquisition of assets, with its subsequent rehabilitation and management, and a third possibility, which is the management of third-party assets, through management contract agreements.

GSA, which has a presence in Germany, China, Japan, Australia, the United Kingdom, Ireland and Dubai, has already set to work on the first two projects to be carried out in Spain under its management. They are two residences located in Barcelona. The first, in the South Campus of the University of Barcelona, will involve an investment of 30 million euros. “For now, we have all the licenses to start building, although construction will not start until February,” GSA stated.

The second project in the Catalan capital will be in the Sants Station and will be carried out in collaboration with the Barcelona City Council. This residence, which is already being built, signified an investment by the group of more than 27 million euros.

“We are now looking for new assets in our primary markets, which are Madrid and Barcelona, and then we will expand our focus to other cities, such as Salamanca, as well as cities in the south and north of Spain,” both executives added.

Regarding the purchase of new companies, at the moment, the CEO of GSA in Spain dismisses the possibility: “the only company that could interest a group like ours is Resa, and its sale was carried out recently.” “For now, we do not know of any other company that interests us,” he says.

The business in Spain

As a Spanish-speaking country, Spain receives a large number of Latin American students every year. Of the more than 100,000 international students that arrived in the last year, 10% were Colombians and Peruvians. They are, together with Italians, the foreign nationalities which most contribute students to the Spanish universities.

The Swiss fund Corestate paid 13.5 million euros for a college in Madrid

This international influx, which represents 7% of the total number of students in state universities, has led different funds to become interested in the construction and purchase of residences in the country. The Swiss fund Corestate entered the market last year, through the acquisition of a college in Madrid, for which it paid 13.5 million euros, while Early Capital will build a residence of 10,000 square meters in Esplugues de Llobregat (Barcelona). Also, the multinational The Student Hotel is already active in Barcelona.

In total, the market for student residences in Spain is expected to receive investments of €600 million in 2017, with a return on prime residences of 5.75%, above countries such as the United Kingdom or Germany (5% in both). Just with the sale of Resa, that quota has already been fulfilled.

Original Story: EjePrime – C. Pareja

Translation: Richard Turner