Global Student Accommodation (GSA) marked its entry into Italy with the acquisition of the Trentacoste development site in Milan.
The student housing real estate firm has invested an unspecified amount to acquire a 515-bed development site, describing the move as a step in advancing its investment strategy to expand its presence in key cities across Italy and Europe. Trentacoste will be operated by Yugo, GSA鈥檚 global operating partner.
James Hunt, global head of real estate at GSA, said: 鈥淚鈥檓 delighted to have extended our global footprint with entry into Italy. It鈥檚 an exciting market, with significant opportunity for GSA to deploy both our acquisition capabilities and development expertise, to create a market-leading portfolio across select cities.
鈥淭he supply-demand imbalance for PBSA seen across Italy is particularly acute in Milan, where eight international students compete for every PBSA bed. As the number of domestic and international students grows, we are well positioned to support the cities鈥� universities, delivering exceptionally designed, sustainable living spaces that enhance students鈥� higher education journey.鈥�
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