Proprium Capital Partners announces that its Southern European PBSA platform with Collegiate AC Europe Ltd (Collegiate) is investing c. €91m of equity to acquire and develop two PBSA schemes in Italy in the cities of Milan and Padua.
These two high-quality PBSA development schemes located with excellent public transport connectivity and proximity to key universities in each city Bicocca University in Milan and the University of Padua in Padua, and a wide range of neighbouring local amenities.
These two schemes will provide a total of over 1,600 much-needed student accommodation beds, as well as provide its residents with state-of-the-art facilities and services, including gym, spa, outdoor sports facilities, cinema, private dining rooms, group study spaces, vibrant indoor and outdoor living areas, 24-hour security, high-speed Wi-Fi, bike storage, and year-round events programmes.
Javier Perez-Lecumberri, Partner at Proprium Capital Partners, commented: "We’re pleased to launch these two transformative PBSA schemes in Italy, which will enlarge our footprint in Milan and mark our debut in Padua. This additional investment demonstrates our continued commitment to deliver top-tier student housing schemes across Europe. We have an identified US$1 billion pipeline of attractive PBSA investment opportunities with growth plans to build a substantial, well-managed PBSA platform with Collegiate in select university cities and towns across Southern Europe with chronic supply shortage that we can help alleviate."
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