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Property asset managers TPG Real Estate and Round Hill Capital formed a joint venture for the construction of new housing and student housing in Campo Pequeno, Lisbon.
In a statement sent to the press rooms, the companies claim to have already bought a plot of 39,000 square meters located in the capital to achieve this goal.
"TPG Real Estate and Round Hill intend to develop a historic project in the residential segment and a student residence.The financial conditions of the company are not disclosed," the statement said.
According to the two companies, the acquisition of the above mentioned batch constitutes "the first joint venture of TPG Real Estate and Round Hill in Portugal, a country with strong economic performance, with a positive dynamic in the residential segment and offering indicators reliable real estate investment ".
The project will be developed in the area of Campo Pequeno, including "a capacity of 390 student beds and about 250 apartments". Once construction is complete, the Student Residence "will be managed by Nido Student, Round Hill Unit for this purpose in Europe".
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