Ardian and Rockfield‘s European student housing investment venture has acquired an asset in Italy from Stonehill.
The partnership has invested an unspecified sum to acquire the fully-let 500-bed building in Bologna, via Serlio 26/2.
The latest transaction is the third for the Ardian and Rockfield partnership, backed by CBRE Investment Management. Earlier this week, the student housing strategy, launched last October, acquired a Spanish asset. Their initial joint acquisition was an Italian building in November of last year.
Rodolfo Petrosino, head of Southern Europe real estate at Ardian, said: ” We invest in facilities that not only offer functional living spaces, but also create stimulating and collaborative environments that are ideal for fostering well-being and academic success.
“With our commitment to key university cities such as Bologna, we aim to invest in cutting-edge projects and offer our investors an asset class with very attractive returns.”
Matteo Minardi, head of Italy real estate and managing director at Ardian, said: ”The student housing sector in Italy has been experiencing a period of strong growth for some years, with an average increase in the number of foreign students in the last five years of 7.3%.
“University cities, such as Bologna, are at the centre of an increasingly high demand for housing, creating a unique opportunity for investment in modern and sustainable facilities that meet the needs of a new generation of students.”
Juan Acosta, partner and CIO at Rockfield, said: ”From an investment perspective, this asset fits perfectly with our portfolio strategy. It strengthens our geographical diversification, balancing exposure between established and emerging European university markets.
“Thanks to Laude Living Bologna’s premium positioning and its high-quality services, we expect a stable occupancy rate and high rental yields, fostering long-term yield growth and capital appreciation.”
Josep Franch Bellmunt, Southern Europe investment director at Rockfield, said: ”The acquisition of Laude Living Bologna aligns perfectly with the growth model of our evergreen fund.
“The long-term approach of our investment strategy and the structure of the fund allow us to maintain premium assets without time limits, maximising value over time and ensuring reliable, risk-adjusted returns.”
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