Invel Real Estate, a leading player in the real estate private equity market, has made an initial investment of €18 million to support the development by Stonehill International Group of two purpose-built student accommodation ("PBSA") assets in Milan and Padua.
The investment, which represents the first step of Invel and Stonehill’s partnership, will support the development of approximately 1,100 beds across two strategically located sites, at Via Lambruschini in Milan's Bovisa district and Via Valeri in Padua, both situated adjacent to major university campuses. Upon completion, the assets are expected to target LEED Gold certification, reflecting the partners' shared commitment to sustainability and high-quality development standards.
Source: press release sent 15th of June