Heed Capital acquires student residence project in Valencia for €30M

Heed Capital acquires student residence project in Valencia for €30M

The Iberian partnership between Heed Capital ("Heed"), IP Investment Management ("IPIM"), and Amro Partners ("Amro") has acquired a new €30 million student residence project in Valencia.

On a site of around 2,000 square metres, the project will offer 221 new student beds on the newly-recreated Avenida del Puerto, a major avenue within walking distance of five universities in the Spanish city.

The modern, shared facilities include a swimming pool, gym, terrace, green spaces, canteen and study rooms. The development aims to achieve maximum ESG credentials, including BREEAM's Outstanding, Fitwel 3*, and WiredScore platinum certifications.

The project will also seek Passivhaus status, making it one of the most sustainable new buildings in Spain, and mainland Europe, upon completion in early 2026.

Valencia will be IPIM's second Iberian student residence project since the company expanded into continental Europe following the successful launch of its Iberian Student Living fund in 2021, a fund incorporated in Portugal managed by Heed Capital.

Student residence project in Porto

It should be noted that in December last year, Heed, Amro and IPIM closed a €7.5 million financing with Alteralia Real Estate Debt, a fund managed by Alantra, to fund the development of its student residence project in Porto.

This project is scheduled to open in January 2024, in time for the start of the second semester of the 2023/24 academic year and the 151 beds with "BREEAM Outstanding" certification - will be operated under the Amro Estudiantes brand. The investment capital comes from the joint venture of two parallel funds - Iberian Student Living (SF-1) domiciled in Singapore and Iberian Student Living - FCR domiciled in Portugal.

Joaquim Luiz Gomes, Founder and Managing Director of Heed Capital, considers that "the attractiveness of the Valencian market, together with the characteristics of the newly acquired land, allowed us to meet our strict investment criteria. The capacity of our partnership spanning two continents to complete this acquisition and to drive the development of Porto makes us confident that we can achieve even better results in the future".

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