PATRIZIA enters Italian student accommodation market with €70m Turin investment

PATRIZIA has invested €70 million ($69.8 million) in the forward purchase of a new-build purpose-built student accommodation (PBSA) scheme in Turin, Italy, on behalf of one of its international institutional clients.

The site is strategically located in Via Frejus to the west of the city center, which is within 1 km of Politecnico di Torino, home to 33,000 students, and 3.5 km (2.2 miles) from the University of Turin, which has 81,000 students.

The modern PBSA development comprises 582 en suite studio bedrooms along with a host of amenities including a gym, study spaces, a sky lounge, laundry facilities, an expansive green outdoor space and 142 basement parking spaces. The scheme spans 13,000 square meters (140,000 square feet) of residential space over five floors and is located within a 10-minute walk of a metro station and tram stop.

Supporting PATRIZIA’s ESG strategy, the project has been designed to achieve LEED Gold certification, incorporating me