Amro Partners and Invesco Real Estate, the global real estate investment management arm of Invesco Ltd., have significantly increased their exposure to the Iberian residential market, acquiring three new student housing projects across Spain with a total Gross Asset Value (GAV) in excess of €150 million.
The joint venture partnership launched in October 2024 with two initial acquisitions in the Moncloa-Aravaca district of Madrid (166 beds) and the Barcelona metropolitan district (400 beds), which are already under construction and scheduled for launch ahead of the 2027 academic year.
The partnership has now added three further projects to its growing PBSA portfolio: a 195-bed development in Malaga with premium amenities including a rooftop pool; two adjacent plots in Valencia which will deliver a 342-bed scheme within a 15-minute commute of the city’s main university hubs; and a 270-bed development in a leading city in the north of Spain, within walking distance of the historic city centre. These latest acquisitions are scheduled to be delivered in time for the 2028 academic year.
The partnership portfolio now represents a total of €230 million GAV and approximately 1,400 beds across five acquisitions, with further announcements expected in the coming months.
In line with Amro’s wider portfolio, each project will target a full suite of the highest ESG credentials, including BREEAM Outstanding, Fitwel 3* and WiredScore Platinum certifications. Extensive amenities and shared facilities will encourage optimum student health and wellbeing, including gyms, canteens, study rooms, terraces and green open spaces.
Source: press release received on 12 November 2025