Spain: Amro Partners and Falco Capital have teamed up to buy a new PBSA project in the Alicante region.
The Amro Estudiantes Alicante project has a GDV of €30 million and will deliver 280 student beds in San Vicente del Raspeig. The asset is expected to be completed in Q3 2025.
Amro, which entered the Iberia PBSA market in 2018, has completed transactions across Spain and Portugal totalling 2,500 beds with a €275 million GDV. It expects to have a portfolio of 5,000 beds over the next three years.
Raj Kotecha, co-founder of Amro Partners, said: “We believe that even in the current challenging market conditions, the supply/demand mismatch in purpose-built student accommodation across many European countries provides a compelling investment opportunity. We’re pleased to establish a new presence in Alicante in a prime spot close to the main university hub, where we know there’s strong and growing need for high-quality dedicated student housing.”
Richard Anderson, joint managing director at Falco Capital, added: “We are delighted to complete our latest acquisition with Amro, making this the eighth joint venture we have undertaken together. In our view, Amro’s commitment to excellence in ESG, technology and design, sets a benchmark in the European PBSA sector.”