MILANO (ITALPRESS) – Allegria Developments, a company specialized in the development of PBSA solutions (particularly built student housing) and flex-living, together with the Bongiorno family, launched New Living, an investment platform dedicated to the Italian living sector, built in partnership with a leading international institutional investor and with Azimut Infrastructures & Real Assets. The student housing sector (student housing) and housing for young professionals (young professional living), although rapidly growing, remains in Italy still strongly undersized compared to the rest of Europe.
To date the New Living platform has collected about 50 million euros of capital from major partners and private investors and additional 50 million senior banking loans. The development plan includes about 1000 beds in three projects, respectively in Milan (Certosa and Corvetto) and in Rome (Tor Vergata), with opening planned in 2027. UniCredit has funded the projects of Milan Certosa and Rome for a total of 30,5 million euros through a newly-constituted SICAF and managed by Savills Investment Management SGR, to which the two assets currently under development were conferred.
The New Living platform benefits from a strategic partnership with Habyt, one of the leading global hybrid living operators, with 10,000 managed units. The new developments represent urban regeneration in strategic university areas, will be LEED Gold certified and will offer a wide range of premium services: shared reception, spa, gym, lounge, study rooms, cinema, common kitchen and, in some cases, an integrated commercial component.
“We thank UniCredit, acting as a financial partner in the initiative, confirms its active role as a credit institution always attentive to social dynamics and sustainability for the development of our country – said Leonardo Bongiorno, founder and CEO of Allegria Developments. The launch of the New Living platform, together with the support and trust of leading institutional investors, will allow Allegria to start new projects in major Italian universities, responding to the growing demand for hybrid housing solutions. The aim of New Living is to create a national portfolio that can bring interesting returns to our investors but at the same time create a positive impact on the market, creating modern accommodation facilities dedicated to both university students and young professionals, offering the flexibility of omnicomprehensive housing formulas with durations that can vary from the entire university season to the single night, week or month, so going to respond to what is a real housing emergency.”.
“With this credit intervention – said Roberto Fiorini, Regional Manager Centro Italia of UniCredit – we reiterate UniCredit’s will to propose itself as a reference partner for business companies interested in developing investment plans in the building sector that are concrete and sustainable. Promote and accompany the sustainable development of our customers and communities in which we operate continues to be a priority for UniCredit”.
– Unicredit press office photos –
(ITALPRESS).
