Italian asset manager Kryalos Sgr has launched Mathelt, a new real estate fund focused on creating an investment platform for modern student housing.
The fund aims to raise over €100 mln and will primarily invest in existing properties in prime Italian university locations and transform them into modern student housing. The fund will invest in properties that require development, rehabilitation, or renovation to meet the needs of today's students.
Kryalos will also act as a co-investor in the fund.
Paolo Bottelli, CEO of Kryalos, commented: ‘The launch of the Mathelt fund represents Kryalos' commitment to investing in an asset class that generates a direct and significant impact in terms of urban regeneration, social development, and support for the formation of human capital. In Italy, the prospects for this segment are very positive - given the current gap between the existing offer and the growing demand for university accommodation - and there is ample room for growth for modern structures managed by specialized operators in line with international standards.’
The initial investment is a disused 18,000 m2 office building in Bologna, previously leased to INPS, which will be transformed into a student residence with approximately 600 beds.
The project is expected to achieve high ESG standards and will be the most advanced student housing facility in the city. The property acquisition was financed through a green loan from a major international bank.
The property is located near the historic center of Bologna in via Gramsci, 6.
