Ardian, a prominent private investment firm, and Rockfield Real Estate have announced a new investment in Purpose-Built Student Accommodation (PBSA) in Bologna, Italy. This follows their previous investments in Florence and Barcelona as part of their pan-European strategy.
The newly constructed property, located at Via Serlio 26/2, is strategically situated just 10 minutes from Bologna's central station and near the university district. Developed by Stonehill, a pioneer in the Italian PBSA sector, the building was completed in 2022 and features 1,100 rooms across various projects, with additional developments underway in major Italian university cities.
The Bologna residence is designed to meet high international standards, boasting LEED Gold certification. It spans 16 floors and a basement, covering approximately 20,000 square meters and providing over 500 beds, with nearly full occupancy. Amenities include lounges, study rooms, a gym, cinema, yoga room, and laundry facilities. Each room is a self-contained studio apartment with private kitchen and bathroom, designed by TP Bennet, a UK firm known for student residences.
This acquisition marks Ardian and Rockfield's third investment aimed at enhancing their portfolio in key European university cities. They have an active investment pipeline across Italy, the Netherlands, Spain, Germany, and France, supported by around €800 million in available capital. The student housing sector is critical in addressing the growing demand from students, particularly in Italy, which has one of the lowest supplies of student accommodation in Europe.
Rodolfo Petrosino, Head of Real Estate Southern Europe at Ardian, emphasized their vision to create a modern, sustainable portfolio of student residences that cater to students' needs for quality living and environmental considerations. The focus is on developing facilities that foster well-being and collaboration among students.
Matteo Minardi, Head of Real Estate Italy at Ardian, noted the strong growth in the student accommodation sector in Italy, with international student numbers rising by an average of 7.3% over the past five years. Bologna, hosting over 100,000 students annually, presents a unique investment opportunity due to its attractive living costs and quality education.
Juan Acosta, Partner & CIO at Rockfield, highlighted that the Bologna asset aligns well with their portfolio strategy, enhancing geographic diversification and balancing exposure across established and emerging European university markets. The premium positioning and amenities of Laude Living Bologna are expected to yield stable occupancy rates and strong rental returns.
Josep Franch Bellmunt, Investment Director at Rockfield, added that the acquisition fits their evergreen fund's growth model, allowing for long-term asset holding to maximize value and deliver reliable returns.
The partnership between Ardian and Rockfield, supported by CBRE Investment Management, aims to develop a pan-European investment strategy focused on PBSA, addressing the increasing demand for quality student housing across Europe.
