Amro Real Estate Partners has purchased a plot with building rights of c. 6,000m² in Málaga, as part of its plans to set up a €500m student housing portfolio in Spain & Portugal.
This is the third site Amro buys in Spain, following acquisitions in Granada and Seville and, according to investment director Jai Patel, the group is already «well underway in delivering 925 beds across Spain, with further acquisitions brewing just behind in the pipeline». The plot is located in the Teatinos area close to the main campus of the Universidad de Málaga.
Marcus A, development director at Amro has informed that the planned student residence will offer «a wide range of facilities including; an outdoor pool, terraces, gym, as well as group study and dining spaces, all fully managed and operated by the Amro Estudiantes brand»
Construction on the Malaga asset is expected to begin in 2020, with an opening due in the second half of 2021. The group is targeting 10-12 additional projects in the region over the next three years.
Amro Real Estate Partners is a London-based real estate investment firm which specialises in managing purpose-built residential assets and is backed by a private family office.