Kryalos starts Mathelt fund to convert real estate into student halls of residence

Kryalos Sgr has set up and commenced operations of Mathelt, a new real estate fund dedicated to the creation of an investment platform in student properties. It is aValue Add type fund, with a fundraising target in excess of EUR 100 million, whose investment policy is focused on existing land and buildings to be developed, rehabilitated or refurbished with potential for conversion into new-generation student halls of residence located in Italy's main university cities.

The fund started its operations by concluding its first investment, represented by a disused building of about 18,000 square metres - a former office formerly leased to the Inps - located in the immediate vicinity of Bologna's historical centre, at Via Gramsci, 6, which will be converted into a student residence with about 600 beds. Once the conversion process is complete, the student residence, which will have excellent ESG credentials, will be the most modern and efficient building in Bologna dedicated to the student housing segment. Due to the quality of the project, the purchase of the building was financed through the underwriting of agreen loan provided by one of the leading international banking groups active in Italy.

"The new student housing projects," said Paolo Bottelli, CEO of Kryalos, "define their quality in their ability to contribute to the urban regeneration of the areas in which they are located and are a driving force for change and connection, in a strong relationship with the city. In Italy, the prospects for this segment are very positive - given the current gap between the existing supply and the growing demand for university accommodation - and there is no lack of room for growth for modern facilities managed by specialised operators in line with international standards".