Portugal: Real Estate company Hines has acquired a new purpose-built student accommodation (PBSA) asset in Porto, set to deliver 573 bedrooms.
The project is currently under construction and is scheduled to open for the 2026/2027 academic year.
The scheme will be operated by aparto, Hines’ international student accommodation platform.
The acquisition was made through the Hines European Property Partners (HEPP) fund and represents the first investment by Hines in the Portuguese market.
The building – which has a total floor area of 19,259 square metres – 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 single rooms with private bathrooms and shared kitchen, dining, and living areas.
Plans also include a wide range of indoor and outdoor amenities and services, including an indoor and outdoor gym, a swimming pool, a social lounge, a cinema, a reservable private kitchen, a study and meeting rooms.
Student residents will also have access to laundry facilities, a yoga room, a games room, and a multi-sports outdoor court, as well as landscaped gardens and parking.
The PBSA scheme is located on the Asprela University campus, the largest academic hub in Porto, home to more than 43,000 students.
The project is targeting BREEAM Excellent and WELL Gold certifications, which Hines says would be in line with the company’s commitment to sustainability.
Vanessa Gelado, senior managing director and country head for Spain and Portugal at Hines, said: “This operation marks a major milestone for Hines as it represents our first investment in Portugal. With growing demand for student housing and still limited supply, Porto stands out as one of the most strategic markets for the PBSA sector in the Iberian Peninsula, backed by solid macroeconomic fundamentals. We are delighted to help close this gap with a high-quality project operated by aparto, our global student accommodation platform.” she added.
The asset was sold by Garcia, a Portuguese construction and development firm that specialises in design and build projects, with expertise spanning industrial, logistics, residential, office, and student housing sectors.
Hines received advisory support from JLL on commercial due diligence, Morais Leitão on legal matters, Arcadis on technical aspects, and EY for tax advisory and CBRE’s REIB team served as the financial and real estate advisor on the sale.
Jeorge Duarte, senior managing director and Hines said: “This acquisition reinforces Hines’ confidence in the potential of the student housing sector in Europe. Porto is a city with a vibrant and growing student population, and we believe this project will offer a best-in-class value proposition based on quality, sustainability, and user experience.”
Highlights:
- Hines enters Portuguese market with its first PBSA investment in Porto
- The development will feature 573 beds and is scheduled for 2026-2027 academic year
- It will include indoor and outdoor pools, cinema, social lounge and study spaces
