Hines has acquired a new purpose-built student accommodation (PBSA) project currently under construction in Porto, Portugal,.
The seller of the asset is Garcia, a Portuguese construction company and developer specializing in design and build, with experience in industrial, logistics, residential, office and student housing projects.
The acquisition was made through the Hines European Property Partners (HEPP) fund and represents the first investment by Hines in the Portuguese market, reinforcing the firm’s commitment to the living sector in the Iberian Peninsula.
The asset plans to feature 573 beds and will be operated by aparto, Hines’ international student accommodation platform. The building, with a total floor area of 19,259 square meters (207,300 square feet), is located on the Asprela university campus, the largest academic hub in Porto, home to more than 43,000 students. The residence is close to several faculties of the University of Porto, Portucalen
