M&G will finance the development of a €63 million ($77 million) purpose-built student accommodation scheme in central Turin, Italy. The forward funding has been agreed on behalf of the €4.2 billion ($5.1 billion) M&G European Property Fund.
The 582-bed scheme is M&G’s second investment in purpose-built student accommodation in Italy, following the forward funding of a 513-bed student accommodation asset in Bologna in November 2020. With more than 100,000 students and a limited supply of quality accommodation, the fundamentals and future growth prospects for Turin’s student accommodation market are strong, thanks to continued resilient domestic and international demand.
Located in Turin’s lively Cenisia district, the five-story building is a short walk away from Politecnico di Torino University and Porta Susa railway station. In line with M&G Real Estate’s core focus on sustainability and environmental excellence, the property will be powered
