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Italy: Harris Associates has been instructed to sell PBSA development projects in Padova and Pisa, with a potential combined 577 beds.
Marking its debut in the European market, Harris Associates says RELIFE Padova (247 beds) and RELIFE Pisa (c.330 beds), offer investors a compelling forward-commit (Padova) and forward-funding/commit partnership (Pisa) in Italy’s PBSA sector, backed by a proven, vertically integrated developer-operator and located in two of the country’s most undersupplied student cities.
RELIFE is the dedicated PBSA operational platform of Swiss private real estate investment group Real Asset Capital.
Italy has around two million students but only 85,000 PBSA beds, representing a provision rate of around four per cent, compared with approximately 15 per cent across Europe and more than 30 per cent in the UK.
RELIFE Padova is a shovel-ready PBSA forward-commit development, a 15-minute walk from the historic city centre and the University of Padova. Designed by Lombardini22, the scheme will deliver 247 beds across 214 rooms and is scheduled to open for the 2028/29 academic year. The accommodation will comprise single ensuites, twin ensuites and single studios, supported by extensive amenity including a library, communal kitchen, games room and food and beverage café space.
The University of Padova has more than 72,000 students.
RELIFE Pisa provides the follow-on forward-funding/commitment opportunity. Part of a masterplan, the scheme is 400 metres from the Leaning Tower of Pisa and adjacent to University of Pisa. The PBSA element is expected to deliver c.330 beds across 220 rooms, alongside a 32-room boutique hotel and retail space. The scheme is expected to be shovel-ready in Q1 2027 and to open for the 2029/30 academic year, subject to consents.
Pisa has more than 46,000 students at the University of Pisa, with a broader higher education ecosystem including the Scuola Normale Superiore and Sant’Anna School of Advanced Studies.
Jamie Harris, co-managing partner at Harris Associates, said: “Harris Associates is delighted to bring this opportunity to the investment market, expanding our proven global capital relationships and innovative storytelling approach to European PBSA assets, alongside our in-house marketing agency Harris Studios – with many further EU projects to come. Italy has some of the strongest student accommodation fundamentals in Europe, but for many international investors it remains difficult to access.”
“RELIFE Padova & Pisa offer institutional-grade assets, in world-renowned university cities alongside a robust vertically integrated developer and operator. We are looking forward to robust investor interest from this highly sought-after sale,” he added.
Ralph Kattan, founder of Real Asset Capital and RELIFE, said: “Padova and Pisa build on the success of RELIFE Torino and reflect our ambition to create high-quality and socially responsible student accommodation across Italy. We are pleased to work with Harris Associates to identify an investment partner who shares our vision for the projects and wider PBSA pipeline.”
Elisabetta Tagliente, country director Italy, at RELIFE added: “RELIFE are looking forward to expanding our rare best-in-class PBSA operating platform to the historic university cities of Padova & Pisa, alongside our development partners at Real Asset Capital. Headquartered in Italy, RELIFE is excited to engage with investors to showcase our award-winning operating approach, and build on our robust results at RELIFE Torino”
Highlights:
- Harris Associates has been instructed to sell PBSA development projects in Padova and Pisa, with a potential combined 577 beds.
- RELIFE Padova (247 beds) and RELIFE Pisa (c.330 beds), offer a forward-commit (Padova) and forward-funding/commit partnership (Pisa)
- RELIFE is the dedicated PBSA operational platform of Swiss private real estate investment group Real Asset Capital
- Italy has around two million students but only 85,000 PBSA beds, representing a provision rate of around four per cent
