Italian asset manager Finint has announced the launch of a new closed-end student housing fund targeting equity of €100 mln.
The fund, known as Pitagora, has a duration of 12 years aims to invest in environmentally-friendly student housing assets across the country
In particular, the vehicle will seek to build up a portfoio of 1,600 beds by focusing on redevelopment projects in strategic locations near universities with more than 15,000 students.
‘The Student Housing market has experienced rapid growth in recent years and represents one of the most active emerging sectors in Italy,’ commented Mauro Sbroggiò, CEO of Finint Investments SGR, a unit of Banca Finint. ‘In Italy there are 97 university institutes which welcome over 600,000 non-resident students every year. Of these, it is estimated that around half are looking for accommodation complete with services. Precisely to meet this need, we have chosen to enter the student housing market through the new Pitagora Fund.’
Finint is also active in the senior housing sector with three dedicated funds.
