Kryalos and King Street two assets in Milan and Padua for student accommodation

Kryalos Sgr has finalised, together with King Street Capital Management, through the Domo Fund, the forward purchase of two properties, one in Milan and one in Padua - for a total countervalue of approximately EUR 115 million - intended for the development of modern student accommodation facilities, further strengthening its position in the student housing sector.

The building in Milan is located at 18 Via Cesare Beruto, in the heart of the Città Studi district, home to the Politecnico di Milano, one of the city's most important academic institutions.

The project will be overseen by Pohl Immobilien, a South Tyrolean group that develops and implements highly sustainable real estate and urban regeneration projects throughout Italia, and envisages the construction of a student residence for a total of 350 beds and a set of amenities in line with the best international standards that includes, among others, a swimming pool, gymnasium, study rooms, cinema hall and refreshment area, as well as outdoor green areas and a sports field.

The asset in Milan, once completed, will therefore rank among the most modern and high-quality student housing solutions on the Milan market, benefiting from a particularly favourable location, approximately 4 minutes' walk from the Lambrate metro and railway station (as well as from the main bus connections) and approximately 1.4 km from the Città Studi campus of the Politecnico.

With regard to the Padua property, on the other hand, the area on which the facility will be built is located in Viale della Pace, a strategic position between the railway station and the city centre. Padua has about 70,000 university students, over 70% of whom are mobile, and is therefore the fifth largest market in Italy after Milan, Rome, Turin and Bologna.