European student housing specialist The Student Hotel is to invest around €90 mln in the development of a new student accommodation project in the Italian capital city.
The project, known as TSH San Lorenzo, will encompass 444 student apartments over 21,000 m2 of space and is expected to be completed by the end of 2023.
The latest acquisition brings the total amount invested by the Student Hotel in Italy to around €450 mln including assets in Turin, Florence and Bologna.
‘We are very excited to have signed this agreement and look forward to opening our doors in what is perhaps the most famous city in the world, Rome,’ commented the CEO and founder of the group Charlie MacGregor. ‘We started our adventure with our first hotel in Florence in 2018 and last October we successfully inaugurated Tsh Bologna, despite the difficult times due to Covid. Needless to say, having three other hotels in the pipeline, we love Italy! We are pleased to bring our idea of community to Rome and we hope it will have a positive impact on the San Lorenzo district.’
‘This investment shows the confidence we place in the future prospects of the Italian market and in a city as important as Rome, despite the difficult moment we are facing,’ added Edoardo Volpi, head of Investments Italy at TSH.
