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Amro Seeks Partner for EUR 300m Investment

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Amro Real Estate Partners is looking for a partner to invest EUR 300m into student accommodation opportunities in Spain and Portugal.

The student housing and build-to-rent investor specialists have appointed CBRE Spain to search for a joint venture partner to access the market in Iberia.

Amro is looking to create a 5,000-bed investment platform in the Iberia region through development, refurbishment, forward purchase and acquisition.

The company has a wealth of experience in developing and operating student accommodation assets in the UK and has been involved in the development of more than 20,000 beds in the UK market.

Amro has already made its first investment in Granada Spain, purchasing a 360-bed property that will become operational in 2020.

Raj Kotecha, a managing director at Amro, said: "The student housing market in Southern Europe shares characteristics with the UK student housing market of 10-12 years ago with demand for purposed built accommodation significantly outstripping supply and competition from professionally managed schemes being limited."

"This is a market still very much in its infancy and we believe our entry timing is ideal. We have an ambitious and well-formulated investment strategy with a strong pipeline of schemes underway. Working with a joint venture partner who shares our perspective on the market opportunity will allow us to execute this strategy with speed."

Amro's Iberia pipeline spans ten cities and already consists of around 1,300 beds currently under negotiation in Spain and Portugal.