Nido Living expands into Italy with Milan PBSA purchase

European student accommodation provider Nido Living has entered the Italian market by acquiring the Unionzero student housing development in Milan.

Unionzero

This forward purchase agreement, made with Hines and Prelios, secures over 600 student beds in Milan's Sesto San Giovanni district and is a significant step in Nido's European expansion.
The 18-story development, set to open in mid-2027, will offer high-quality student accommodation with extensive amenities such as study areas, a gym, cinema, gaming lounge, bike storage, and rooftop terraces. 
It also prioritizes sustainability, aiming for LEED Gold certification and an A1 energy rating through features like solar panels, geothermal heat pumps, and water-saving infrastructure. 
This strategic move reinforces Nido's growth in Italy, a country with a highly undersupplied market for purpose-built student accommodation.
Carlo Matta, CEO of Nido Living, said: “Milan is one of Europe’s most dynamic university cities, yet it remains structurally undersupplied in student accommodation. At the same time, Italy has been highly successful in attracting international talent to its universities, reinforcing the strength of demand. Unionezero is a flagship development that reflects the scale of our ambition and the quality we bring to the market. With strong backing from global institutional capital, this acquisition marks the launch of our platform in Italy and underscores our confidence in the long-term demand for PBSA across the country.” 
Giuseppe Zafferri, head of Italy at Nido Living, added: “Unionezero is not only a best-in-class PBSA project, but also part of a wider urban regeneration that will transform Sesto San Giovanni into a thriving new district of Milan. This acquisition marks a significant step in Nido’s Italian expansion strategy, supported by close to €1 bn of committed investment. Forward purchasing allows us to apply our operational expertise at the earliest stage of development.” 
Nido Living plans to announce further accretive acquisitions in Italy in the coming weeks.