Hines makes PBSA debut in Portugal with major acquisition
Hines has acquired a new purpose-built student accommodation (PBSA) project in Porto, which is currently under construction. The acquisition was made through the Hines European Property Partners (HEPP) fund and represents the first investment by Hines in the Portuguese market, reinforcing the firm’s commitment to the living sector in the Iberian Peninsula.
The building – which has a total floor area of 19,259 sqm – will include 573 bedrooms in a mix of studios with private kitchens and bathrooms; ensuite rooms with private bathrooms and shared kitchens between two residents; and cluster units consisting of several single rooms with private bathrooms and shared kitchen, dining, and living areas.
Designed to provide a comprehensive residential experience, plans include a wide range of indoor and outdoor amenities and services. Highlights include indoor and outdoor gyms, a swimming pool, social lounge, cinema, reservable private kitchen, study and meeting rooms, laundry, yoga room, games room, and a multi-sports outdoor court, as well as landscaped gardens and parking …