Kryalos and King Street expand Italian PBSA portfolio

Kryalos SGR and King Street Capital Management are expanding their presence in the Italian student housing market with the creation and launch of the Domo Fund.

Milan, Italy

This new fund has already signed two agreements to acquire properties in Milan and Padua, which will provide a total of over 880 student beds.

Through the Domo Fund, Kryalos SGR, an independent asset management firm, and King Street have completed forward purchases for developments in Milan and Padua. These projects are aimed at creating modern student accommodation facilities, strengthening their position in the sector.

The Milan property, located at 18 Via Cesare Beruto in the Città Studi district, is close to the Politecnico di Milano. Pohl Immobilien will manage this development, which includes a student residence with 350 beds and top-tier amenities such as a swimming pool, gym, study rooms, cinema, dining area, green spaces, and a sports field. Once completed, it will be a high-quality student housing option in Milan, conveniently located near Lambrate station and the Politecnico campus.

The Padua property will be developed on Viale della Pace, strategically positioned between the railway station and the city center. Padua is a significant university city with approximately 70,000 students, mostly from outside the city. Gruppo Industrie Edili Holding will manage this development, which involves constructing a modern facility with 530 single rooms, each with a kitchen and private bathroom, along with other high-standard services, primarily for student housing.

With these two developments in Milan and Padua, the Domo Fund's portfolio now has a total capacity of approximately 880 beds. Including another project in Bologna, Kryalos is increasing its total student housing portfolio to around 1,500 beds.

Paolo Bottelli, CEO of Kryalos, said: “These transactions confirm Kryalos and King Street’s strong interest in the student housing sector, a segment with promising growth prospects, supported by long-term demographic and structural trends. Milan and Padua are extremely attractive markets, characterised by structurally high demand and a supply that remains insufficient.”