Aventicum and CA Ventures form JV to develop student housing in Italy

CA Ventures and Aventicum Real Estate have formed a new joint venture to develop purpose-built student accommodation (PBSA) assets across Italy.

The joint venture has announced its first PBSA development project totaling 540 beds in Milan, which will be situated next to Milan’s Citta Studi district, home to the Polytechnic University of Milan’s main campus and departments of the University of Milan. The Citta Studi district is the epicenter of student life in Milan with an eclectic mix of bars, restaurants and retail destinations, as well as excellent transportation links. The property will offer the highest quality amenities available in the market and will be a leader in sustainability, with both LEED Gold and Fitwel certifications. The project is aimed at meeting the significant excess demand for beds in Milan, where the current ratio of students to available beds is approximately 18:1. The property is expected to welcome its first residents for the 2023 academic year