Amro joins forces with Invesco Real Estate to target Iberia

Amro Partners has joined forces with Invesco Real Estate, the USD 90bn global real estate investment business of Invesco Ltd. (NYSE: IVZ), to pursue opportunities in the Iberian residential market, starting with the acquisition of two new projects in Spain.

The first project will comprise 400 new student beds in northern Spain, a 15-minute walk from one of the biggest and most renowned universities in the country. In Madrid, the development will feature 166 beds in the Moncloa-Aravaca district, in the northwest of the city, close to several university campuses including Moncloa - the main university campus in Madrid.

In line with our wider portfolio, both projects will target a full suite of the highest ESG credentials, including maximum BREEAM, Fitwel and WiredScore certifications, with a wide range of amenities and shared facilities encouraging student health and wellbeing.

Building further on our existing presence in Iberia and an actionable pipeline of 5,000+ student beds, we are focused on an ambitious wider growth strategy across Europe including new markets in Germany, the Netherlands and the UK. Our collaboration with Invesco in Iberia is a key pillar of this strategy, driving rapid, organic growth to meet increasing demand for high quality, ESG-friendly student housing.

Amro Chairman and CEO, Raj Kotecha, said: “Invesco’s strong market presence and proven track record in the living space make them an ideal long-term partner, as we strengthen our evolution into an institutional capital specialist asset manager.

“We are targeting off market opportunities in well-connected locations within Tier 1 cities. By coinvesting, developing and managing these assets, we are able to leverage our local expertise and sector experience to futureproof our investments and deliver excellent returns. We expect these to be the first of several transactions to be announced over the next few months.”