Milan, Italy — Aventicum Real Estate and CA Ventures have formed a joint venture to develop purpose-built student accommodations (PBSA) across Italy.
The partnership’s first project will be a 540-bed community in Milan’s Citta Studi district. The property will serve students attending the Polytechnic University of Milan’s main campus and departments of the University of Milan. The community is scheduled for completion in fall 2023 and will be managed by CA’s in-house PBSA property management platform, Novel Student.
“Italy is rich with top tier universities that have established prominence on a global scale, leading to significant growth rates over the past few years,” says Carlo Matta, head of Europe for CA Ventures. “Despite this growth, there is a significant lack of high-quality PBSA assets and operators that sufficiently meet the needs of this generation of students. We are excited to partner with Aventicum on this venture, leveraging both teams’ expertise in the student housing industry.