Temprano Capital Partners, a European investment group based in Madrid , will provide 1500 studios for students in Lisbon, Oporto and Coimbra, affirming itself as the largest investor in the market of university residences in our country. It should apply between €80 and €100 million.
The group is finishing the Marques de Pombal, in Conde Redondo street its first residence in Portugal, with a total of 11000 m2. It is an old CTT building rehabilitated, that was now transformed into a luxury university residence with capacity for 330 occupants, swimming pool, fitness room, shared movie room, library and bicycle parking are some of the services.
On the other hand, in the Sousa Lopes street, in the Entrecampos zone Temprano has acquired a plot of land where it will build a new building with capacity for 370 students, to be completed by 2019.
In Oporto, near the university campus, it will have a building for 580 students, to be completed also in 2 years. In Coimbra there is a building under negotiation, which will have 250 rooms, to be realized.
Neil Jones, one of the founding partners of Temprano, explains to newspaper Expresso that “we have been studying this market for a few month and the first asset (Conde Redondo) we acquired was closed in 2015. We identified this sector of university residences practically non existent in Portugal as a strong growth area in demand. That´s way we invest in it”.
“The truth is that is not easy to find the kind of scale we need. It is very difficult to find a 10000-square-meter building in the center of the cities” says James Preston, the other founding partner of Temprano.
Iberian.Property, October 2017.