Amro Partners begins European Expansion plans with the opening of its Amsterdam office.It is expected that the residential living specialist will double its existing purpose-built student accommodation (PBSA) portfolio from 2,500 units to 5,000 by the end of 2024.
Led by newly appointed Investment Manager Thomas Bohnstedt, previously Head of Underwriting at LRC Group and prior to that an Associate at Hudson Advisors, the office will target new PBSA opportunities in the Netherlands and Belgium.
“We believe that even in the current challenging market conditions, the supply – demand mismatch in PBSA across many European countries provides a compelling investment opportunity. We are well positioned to deliver future proofed ESG assets and attractive risk adjusted returns to our investment partners, and by expanding our presence in Europe we intend to bring our experience to new markets.”
Raj Kotecha, Co-Founder and Managing Director, Amro Partners
Established in Iberia since 2018 and with nine projects completed or under development, Amro is targeting early market share arising from a shortage of student beds against a backdrop of rising student populations. JLL estimates approximately 2.6 million more student beds are needed in Europe’s main student centres to meet existing demand, with growing student numbers expected to push the shortage even higher.
Amro aims to hold the leading portfolio of residential assets in Europe from an ESG perspective, with all projects targeting BREEAM Outstanding. It is analysing acquisition opportunities ranging from 200 to 500 beds in cities with growing student populations, with further office openings planned in Germany and the Nordic countries during 2023.
“Amro’s dual focus, combining real estate and sustainability, appeals strongly to European investors and students alike. Our specialist sector knowledge and entrepreneurial approach puts us in a strong position to become a truly pan-European developer and operator. We are already reviewing a strong pipeline of opportunities, and I look forward to undertaking our first set of transactions in the coming months.”
Thomas Bohnstedt, Investment Manager, Amro Partners
