Hines, the global real estate investor, developer, and manager, has made its debut in the Portuguese market with the acquisition of a student accommodation project in Porto through its Hines European Property Partners (HEPP) fund, strengthening its presence in the Iberian living sector.
The 19,259 m² development will feature 573 beds and is strategically located on Porto's Asprela university campus, which hosts over 43,000 students. Set to open for the 2026-2027 academic year, the residence will be operated by Aparto, Hines' international student accommodation platform, and aims to secure BREEAM Excellent and WELL Gold certifications.
"This operation marks a major milestone for Hines as it represents our first investment in Portugal. With growing demand for student housing and still limited supply, Porto stands out as one of the most strategic markets for the PBSA sector in the Iberian Peninsula, backed by solid macroeconomic fundamentals. We are delighted to help close this gap with a high-quality project operated by aparto, our global student accommodation platform," stated Vanessa Gelado, Senior Managing Director and Country Head, Spain and Portugal at Hines.
"This acquisition reinforces Hines' confidence in the potential of the student housing sector in Europe. Porto is a city with a vibrant and growing student population, and we believe this project will offer a best-in-class value proposition based on quality, sustainability, and user experience," said Jorge Duarte, Senior Managing Director at Hines and Fund Manager of HEPP.
The property, purchased from Portuguese construction company and developer Garcia, will feature extensive amenities including indoor and outdoor gyms, a swimming pool, and multiple social spaces. While other student accommodations in the region typically offer limited outdoor facilities, this development will boast the largest outdoor recreational area among all PBSA assets in Porto, including landscaped gardens and a multi-sports court, an unprecedented offering that addresses growing student demand for wellness-focused living environments. Industry sources estimate the total investment value at approximately €40m, making it one of the largest single PBSA investments in Portugal's northern region.
People mentioned:
- Vanessa Gelado - Senior Managing Director and Country Head, Spain and Portugal at Hines
- Jorge Duarte - Senior Managing Director at Hines and Fund Manager of HEPP
Companies mentioned:
- Hines - Global real estate investor, developer, and manager
- aparto - Hines' international student accommodation platform
- Garcia - Portuguese construction company and developer
- JLL - Commercial due diligence advisor
- Morais Leitão - Legal advisor
- Arcadis - Technical advisor
- EY - Tax advisor
- CBRE REIB - Financial and real estate advisor for the sale
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