Amro Partners & Aviva Investors launch German PBSA platform

Amro Partners and Aviva Investors have teamed up to create a new platform dedicated to investing in purpose-built student accommodation (PBSA) across Germany. 

Charlottenburg

Their goal is to build a portfolio of 3,000 student beds, valued at over €500 mln, within the next three years.
The first acquisition is a prime site in Berlin's Charlottenburg district where a €60 mln project will be developed with 200 student rooms, conveniently located near the Technical University of Berlin, expected to open by the 2028/2029 academic year.
Germany boasts the largest student population in continental Europe (around 2.9 million) and many top-ranked universities, attracting students with low tuition fees and strong academics. However, there's a significant shortage of student housing, with only about 8% of students having access to dedicated accommodation.
The partnership aims to address this gap by developing high-quality, sustainable PBSA properties (targeting DGNB Platinum rating) ranging from 150-500 beds, with €30-80 mln of development values. These will be situated close to universities, amenities, and transport links.
This venture marks a significant step in Amro Partners' European expansion strategy, building on their success in developing a large PBSA portfolio in Iberia.
Raj Kotecha, chairman and CEO of Amro Partners, said: “We are delighted to be working alongside Aviva Investors in our largest capital partnership to date, as we expand our reach into the key market of Germany. Aviva Investors is a blue-chip counterpart who shares our conviction about the PBSA market opportunity in Germany - and we look forward to executing on this over the coming years.”
George Fraser-Harding, head of Pan-European Funds, Real Estate, at Aviva Investors, added: “The student accommodation sector remains an undersupplied market in Germany. We believe that through our partnership with Amro Partners and collective expertise, we can create a platform that will deliver high-quality schemes in some of Germany’s most exciting cities, helping their universities get ready for the future, whilst also delivering investment outcomes for investors.”