Valeo picks new general manager for Iberia

Valeo picks new general manager for Iberia

The company’s new general manager should take charge of the company’s already devised student residences’ development plan for Portugal and Spain.

In order to operate in this alternative segment, Valeo created the brand Liv Student together with Bankinter and Planium Partner which, as revealed by the company in a release, should develop a student residence portfolio in the main Iberian university cities.  

The search for investment opportunities in Iberia has already started. There is already a project being planned for Porto, in Portugal, and another on its way for the city of Granada, in Spain, according to information advanced by Spanish newspaper Cinco Días in June.

These future operations should be carried out by purposely created investment fund VSudent Aulis, which was created with a 153 million euro capital base, but which «could carry out investments between 375 and 425 million euro, including debt», reveals the release. With this vehicle, the company expects to reach 5.000 beds

«We are very happy to have Ignacio Bilbao to lead the development of Valeo Management in the Iberian Peninsula. (…) We are developing a solid student residence portfolio which will allow us to position ourselves as market leaders in the Iberian Peninsula», commented Peter Haspel, Valeo Management Europe’s CEO, in the same document.

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