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The Sacadura Cabral avenue, next to Campo Pequeno, has nearly 40,000 square meters and will come back to life.
Real estate asset managers, TPG Real Estate and Round Hill Capital, have partnered to acquire the only undeveloped land in this central area of Lisbon. The values of the company are not revealed, but the project is already designed: a 390-bed student residence will be born and 250 new apartments will be built.
In the note sent to the press rooms, the two companies only specify that the student residence "will include study and leisure areas for students as well as common commercial spaces accessible to all residents".
Without anticipating the expected completion date of the project, wealth managers have only pointed out that the student residence would be managed by Nido Student, a Round Hill unit that already manages other similar properties in Europe.
"TPG Real Estate and Round Hill have been evaluating the real estate market in Portugal for several years and remain aware of new investment opportunities in the country, in line with the joint venture investment strategy", they added. .
Michael Bickford, CEO of Round Hill, says the company "remains interested in investing in new student housing and in residential growth, in line with Portugal 's investment strategy and growth plans. other European markets ".
The asset manager is also developing the project "Tawny Project" in Porto, which will include 560 rooms for student rentals, housing, a business, offices and a service area. The investment in Porto is 100 million euros.
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