TPG Real Estate, along with Round Hill are looking to create a more high-quality and purpose-driven student accommodation and residential housing on the TPG site. The financial dealings for the transaction have yet to be disclosed.
The acquisition marks TPG Real Estate and Round Hill’s first joint transaction in Portugal, a country which exhibits positive investment fundamentals, a housing demand/supply imbalance, and robust economic performance. TPG Real Estate and Round Hill have been evaluating the real estate market in Portugal for several years and are continuing to target further investments in Portugal, in line with the Joint Venture’s investment strategy.
Situated at Campo Pequeno in central Lisbon, the development will provide 390 purpose-built student accommodation beds and up to 250 residential apartments. The plans also provide for dedicated amenities and common areas for the students, as well as shared commercial space for all residents. Campo Pequeno is an established residential area that benefits from extensive neighbouring facilities and excellent transport links. The site is a short walk to the University of Lisbon central campus and other local universities, colleges and business schools, with easy access to the city’s historic centre and Lisbon Airport.
On completion of construction, the student accommodation will be managed by Nido Student, Round Hill’s established operational platform and brand for European student accommodation. Nido Student acts for Round Hill advised and third-party capital partners across Europe.
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