Ardian and Rockfield Real Estate have acquired Laude Living Bologna as part of their pan-European strategy dedicated to purpose-built student accommodation (PBSA), following their first investment in Florence last November and a recent one in Barcelona.
The building is a highly innovative and sustainable newly constructed property located in the centre of Bologna, ten minutes from the central station and easily reachable from the city’s university district.
The seller, Stonehill, completed construction of the property in 2022. Stonehill was one of the first entrants in the Italian PBSA sector and has delivered 1,100 rooms to date. It is also active in the Austrian and German student markets. It is about to start construction of two further student developments in leading Italian University cities, totaling 1,050 rooms and has secured several further pipeline projects at an earlier stage in the planning process.
The Laude Living Bologna student residence, which meets the highest international standards and is LEED Gold certified, spans 16 above-ground floors and a basement, with a total area of approximately 20,000 sqm. It accommodates over 500 beds, with an occupancy rate close to 100%.
“Our vision is to develop a pan-European portfolio of modern, sustainable, and innovative student residences that meet the needs of students who are increasingly focused on quality of life and the environment.
“We invest in facilities that offer functional living spaces and create stimulating, collaborative environments to promote students’ wellbeing.
“With our commitment to key university cities such as Bologna, we aim to invest in cutting-edge projects and provide our investors with a high-return asset class”.
Rodolfo Petrosino, Head of Real Estate – Southern Europe, Ardian
The rooms at Laude Living Bologna are structured as fully self-contained studio apartments, with a private kitchen and bathroom.
Designed by TP Bennett, a leading UK firm specialising in student residences, the scheme features modern and welcoming interior design with spaces characterised by natural light to ensure maximum comfort for the students.
Students can enjoy various common areas such as a lounge, study rooms, service areas, reception, mailroom, gym, cinema room, yoga room and laundry.
“The student accommodation sector in Italy has been experiencing strong growth in recent years, with international student numbers increasing by an average of 7.3% over the last five years. University cities, such as Bologna, are at the center of this growing demand, creating a unique opportunity for investments in modern, sustainable facilities that meet the needs of a new generation of students.
“Bologna alone hosts over 100,000 students annually, with an increasing number of international students drawn not only to our country’s artistic beauty but also its affordable living costs and high-quality education”.
Matteo Minardi, Head of Real Estate – Italy, Ardian
The Laude Living Bologna asset marks the third acquisition by Ardian and Rockfield in line with their strategic focus on major university cities across Europe.
This is supported by an active investment pipeline in Italy, the Netherlands, Spain, Germany and France, along with approximately €800m of dry powder, aimed at building a high-quality student housing portfolio.
The pan-European investment strategy dedicated to PBSA was born from the partnership between Ardian and Rockfield, with a significant initial commitment from CBRE Investment Management.
“From an investment perspective, this asset is a perfect fit for our portfolio strategy. It enhances our geographic diversification, balancing exposure across established and emerging European university markets. With Laude Living Bologna’s premium positioning and best-in-class amenities, we anticipate stable occupancy rates and strong rental yields, driving long-term income growth and capital appreciation”.
Juan Acosta, Partner, Rockfield
The student residence sector is one of the main real estate segments requiring significant intervention to bridge the gap between growing demand from university students and the existing supply.
Italy has one of the lowest supplies of student housing in Europe and is seeing a steady increase in student numbers, a progressive rise in university enrolments, and an influx of international students.
“The acquisition of Laude Living Bologna perfectly aligns with our evergreen fund’s growth model. Our long-term investment horizon and the perpetual nature of our fund provides the flexibility to hold premium assets indefinitely, maximising value over time and delivering reliable, risk-adjusted returns”.
Josep Franch Bellmunt, Investment Director – Southern Europe, Rockfield
