Aviva Investors buys second Berlin PBSA site with Amro
By IAN Editorial Desk – Aviva Investors and Amro Partners on 1 August said they had acquired a Berlin purpose-built student accommodation scheme as the...
Aviva Investors and Amro Partners on 1 August said they had acquired a Berlin purpose-built student accommodation scheme as the asset manager deepens its German PBSA platform. The project is expected to deliver 454 beds in Prenzlauer Berg, with Amro acting as development and operating partner.
The investment was made through the partners’ dedicated German PBSA platform, which they launched in October last year, and it follows their earlier acquisition of a development site in Charlottenburg. That second Berlin project is expected to create a scheme with a gross asset value of about €60 million and 200 student rooms.
The Berlin deal comes after Aviva Investors said in July it had financed a 342-bed PBSA scheme in Valencia with Amro Partners and Invesco, underlining the asset manager’s wider push into European student housing. The Berlin scheme is expected to include fully furnished studios and shared apartments with private bathrooms and kitchenettes, alongside a lobby, fitness centre, study rooms, a cinema room, landscaped courtyard and terrace.
Sources: avivainvestors.com