In a release, Valeo Management Europe revealed that «the construction works for a new student residence in Porto have just started, after the acquisition of the terrain and the development of the project».
«With the development of the project in the terrains in Porto, we enter a tremendously attractive market as is the Portuguese market. Porto is the second city with more students in Portugal, and, apart from that, almost half of these students come from other cities, which makes us sure that the LIV Student residences we are developing will be a success», commented Ignacio Bilbao, Valeo Management Europe’s CEO for Spain and Portugal. «Our investment and developing plans are moving forward at a steady pace on our other projects and we expect to start more construction works in the coming months as well as closing new investment opportunities in other Spanish and Portuguese cities», he added.
Promoted by Bankinter together with Valeo Group and Plenium Partners, the V Student Aulis is a venture capital fund focused on the Iberian student housing market. It currently has three assets: one in Granada, Spain, and two in Porto, to which should be added an already signed deal to ensure a fourth operation in Barcelona. With these four projects, VStudent’s portfolio will reach 2.250 beds.
Launched in 2018, the fund’s strategy is to keep exploring new opportunities so as to set in motion at least a further ten student residences projects in Iberia, expecting to invest up to 425 million euro in the next months. Predicting that new operations will be closed soon, Valeo Management Europe «keeps actively searching terrains and locations for further projects in the Iberian Peninsula », he said in a release.
Student residences which are part of the fund’s Iberian portfolio, will be managed by LIV Student, a brand from Valeo Group, offering «en suite accommodation, common areas and services carefully conceived and designed for the students’ experience to be memorable», mentioned the group.
Valeo Management Europe is part of the Valeo Group, a multinational dedicated to developing, constructing and managing student and senior residences. Plenium Partners is the society that manages fund VStudent.