Amro Real Estate Partners Ltd. tapped CBRE Spain to help it find a joint venture partner for a capital investment of €300 million targeting purpose-built student housing opportunities in Spain and Portugal.
The specialist student housing and build-to-rent investment and asset management business said in a release that it intends to establish a 5,000-bed investment platform spanning the Iberia region through development, refurbishment, forward purchase and acquisition.
In connection with the plan, Amro bought a development site in Granada, Spain, marking its first property in continental Europe. The company plans to develop a 360-bed student housing project on the site, with opening slated for 2020.
Amro also has approximately 3,000 beds under negotiation, with 1,300 under exclusivity across both Spain and Portugal.
