Amro Partners and Invesco Real Estate have bought two new projects in Spain as part of a newly created Iberian residential investment partnership.
The two firms have created the housing partnership which has acquired a 400-student beds project in northern Spain and a 166-bed project in the Moncloa-Aravaca district.
Raj Kotecha, chairman and CEO of Amro Partners, said: “Invesco’s strong market presence and proven track record in the living space make them an ideal long-term partner, as we strengthen our evolution into an institutional capital specialist asset manager.
“We are targeting off-market opportunities in well-connected locations within tier-one cities. By co-investing, developing and managing these assets, we are able to leverage our local expertise and sector experience to futureproof our investments and deliver excellent returns.
We expect these to be the first of several transactions to be announced over the next few months.”
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