Ardian and Rockfield's first pan-European investment is a student residence in Florence

First investment by Ardian and Rockfield (a platform specialising in student housing), in the joint pan-European student housing strategy, launched thanks to an initial commitment from Cbre Investment Management, through its indirect investment platform and with an investment capacity of almost EUR 800 million.

The investment concerns a newly built sky-land property, developed and sold by CDS Holding Spa, a company based in Erbusco (Brescia). Completed in October 2023 (and already operational), the property is located in the Novoli district of Florence, just a few minutes from the Social Sciences campus of the University of Florence. The new-generation student residence offers 404 beds and is enhanced by common areas, including a swimming pool with solarium, gym, lounge area, study rooms and a cinema room.

This first investment marks the start of Ardian and Rockfield's new strategy to create a portfolio of high-quality student housing in Europe, particularly in Italy, the Netherlands, Spain, Portugal, Germany and France, responding to growing demand in key markets characterised by limited supply.

The pan-European strategy sees Italy as one of the key countries on which to focus its investment activity, given the strong structural deficit of student accommodation in the country. The city of Florence, which annually welcomes around 80 thousand students, a good portion of whom are international, represents one of the most dynamic university destinations in Italy, but still proposes a reduced supply of accommodation in line with European standards. This new project responds precisely to the growing need for modern and sustainable housing solutions, further enhancing the local context.
The property - which is Leed Gold certified - confirms Ardian and Rockfield's commitment to invest in assets that meet high standards of sustainability and environmental responsibility. The strategy, with a Core+ risk profile, aims to create value by improving the operational performance of the assets while contributing to the reduction of CO2 emissions, in line with the Paris Agreement.

"This new pan-European strategy on Pbsa (private built student accommodation)," said Rodolfo Petrosino, head of Real Estate Southern Europe at Ardian, "will have a particular focus on Italy and Spain, which are among the most interesting markets with a growing demand for student accommodation but with the lowestprovision rate in Europe. This platform will further strengthen our presence in these countries, which remain a very interesting target for Ardian Real Estate's growth in Europe'.