Hines has acquired a new purpose-built student accommodation (PBSA) project in Porto, which is currently under construction. The acquisition was made through the Hines European Property Partners (HEPP) fund and represents the first investment by Hines in the Portuguese market, reinforcing the firm’s commitment to the living sector in the Iberian Peninsula.
The building – which has a total floor area of 19,259 sqm – 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 several single rooms with private bathrooms and shared kitchen, dining, and living areas.
Designed to provide a comprehensive residential experience, plans include a wide range of indoor and outdoor amenities and services. Highlights include indoor and outdoor gyms, a swimming pool, social lounge, cinema, reservable private kitchen, study and meeting rooms, laundry, yoga room, games room, and a multi-sports outdoor court, as well as landscaped gardens and parking.
The development aims to feature the largest outdoor area among all PBSA assets in the region, setting a new standard for student quality of life and wellbeing.
The project has been designed with strict sustainability and wellbeing criteria and is targeting BREEAM Excellent and WELL Gold certifications, in line with Hines’ commitment to the highest international standards in property development.
Scheduled top open for the 2026–2027 academic year, the scheme will be operated by aparto, Hines’ international student accommodation platform.
“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.”
Vanessa Gelado, Senior Managing Director and Country Head Spain and Portugal, Hines
The seller of the asset is Garcia, a Portuguese construction company and developer specialising in design and build, with experience in industrial, logistics, residential, office, and student housing projects.
Hines was advised on the transaction by JLL for commercial due diligence, Morais Leitão for legal matters, Arcadis for technical advisory, and EY for tax advisory. The CBRE REIB team acted as financial and real estate advisor for the sale.
“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.”
Jorge Duarte, Senior Managing Director, Hines
The PBSA scheme is located on the Asprela university campus, the largest academic hub in Porto, home to over 43,000 students. It is close to several faculties of the University of Porto, Portucalense University Infante D. Henrique, and Fernando Pessoa University.
