Lisbon and Porto in North American investors crosshairs

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Lisbon and Porto in North American investors crosshairs
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Published: 23rd April 2019, 6:30pm

According to the Financial Times (FT), Lisbon and Porto are among those aimed at becoming a best-seller in the United States for residential projects aimed at students.

The business report reveals that Nuveen, former Nuveen Investments, a subsidiary of TIAA which is an American asset company, is currently investing in the real estate market of the European continent. The company has announced in March 2019 that it is investing in student study in Vienna, Porto and Lisbon.

Jasper Gilbey, director of Nuveen, explains to FT that this investment is “a new strategy in Europe”. Jasper points out to more consistent income gains comparing to the revenue of the traditional classes of real estate assets.

In addition to Portuguese cities, Europe is increasingly attractive to these investors. The FT also referred to Brookfield, a Canadian alternative asset management company, last year bought a majority stake in the German company International Campus Group. In January, it also bought an asset in Paris. And at the end of last year, the KKR, the private equity group, acquired a second student residential project in the Netherlands as part of a joint venture with Round Hill Capital.

390 beds and 250 flats for students, in Lisbon

Keep in mind that TPG Real Estate and Round Hill Capital joined up to create a big residential project of 390 beds for students and about 250 apartments on a plot of 39,000 m2 at Campo Pequeno in Lisbon.

LaSalle Investment Management, which has 66 million dollars (59 million euros) globally, and is based in Chicago, invested in debts that finance student residences in Spain, in addition to its investments in the United Kingdom.

As Europe begins to integrate institutionalized student studies, the UK is moving to the next frontier: “co-life,” an investment strategy that applies some principles of student residency, outlined in the early ‘90s, for graduates in their twenties and thirty-some years.

Source: Diário Imobiliário

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