Amro Partners has taken the next step in its expansion across Iberia with the acquisition of a new 157-bed student housing project in the Spanish university city of Salamanca.
The project is Amro’s ninth in the region since it launched in Iberia in mid-2018, consolidating its portfolio of 2,500 student beds with a total GDV of €250 mln.
Located just 5 minutes from Plaza Mayor, the €18 mln GDV project will comprise a mixture of room types (ensuites, doubles and studios), alongside dedicated study spaces and shared facilities including a canteen, terraces, and gym. The asset will be managed by Amro Estudiantes, Amro’s operating PBSA brand in Iberia.
The project is planned to be one of the most sustainable buildings in Spain on completion, targeting BREEAM Outstanding, with a Fitwel 3 Stars and WiredScore Platinum rating.
In addition, Amro has closed an €18 mln finance deal with lender Cheyne Capital to finance development of its €38 mln GDV student housing project in Pamplona, Northern Spain. Construction began in September 2021 to develop a 340-bed scheme with amenities including outdoor spaces, study rooms, a gym and a canteen, opening doors to students in September 2023.
Raj Kotecha, co-founder and managing director of Amro Partners, said: ‘We believe the Iberian student housing market remains structurally undersupplied and I am delighted to complete our ninth acquisition in the region. We are strategically focused on further growth in our portfolio of best-in-class ESG assets in renowned and well-connected university cities.’
