Amro Partners has bought a new student housing project in Spain alongside joint venture partner Falco Capital.
Amro said the Amro Estudiantes Alicante project has €30m gross development value and will deliver 280 student beds in San Vicente del Raspeig in Alicante. The asset is expected to be completed in the third quarter of 2025.
Amro, which entered the Iberia purpose-built student housing (PBSA) market in 2018, has so far undertaken transactions across Spain and Portugal totalling 2,500 beds with a €275m gross development value. Amro expects to have a portfolio of 5,000 beds over the next 3 years.
Raj Kotecha, co-founder of Amro Partners said: “We believe that even in the current challenging market conditions, the supply/demand mismatch in purpose-built student accommodation across many European countries provides a compelling investment opportunity.
“We’re pleased to establish a new presence in Alicante in a prime spot close to the main university hub, where we know there’s strong and growing need for high-quality dedicated student housing.”
Richard Anderson, joint MD, Falco Capital, said: “We are delighted to complete our latest acquisition with Amro, making this the eighth joint venture we have undertaken together.
“In our view, Amro’s commitment to excellence in ESG, technology and design, sets a benchmark in the European PBSA sector.”
To read the latest edition of the latest IPE Real Assets magazine click here.
