Belgian real estate investment trust Xior Student Housing has bought a €37m asset in Spain from Amro Real Estate Partners.
Announcing the deal, Amro said it has completed the sale of its 354-bed student residence located on the University of Granada’s Cartuja campus.
The asset was purchased by Amro as a development site in 2018.
Amro said it will continue to operate the asset for an initial two year period under its Amro Estudiantes operational brand.
Raj Kotecha, managing director at Amro Real Estate Partners, said: “We recognised the opportunity to enter the Iberian student accommodation market back in 2018, based primarily on the supply-and-demand dynamics, and this successful transaction validates our investment proposition.
“We have a further 1000 student beds currently under development across Iberia and continue to look for opportunities to capitalise on a market that remains at a relatively early stage.”
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