Global law firm Norton Rose Fulbright has advised UniCredit on the financing of the establishment of a new national real estate investment platform for student housing involving Praemia Reim Italy SGR (Praemia) and Camplus.
The transaction was executed through the initiation by Praemia of two distinct real estate investment funds: the ‘Camplus Sviluppo’ fund, aimed at creating new university residences with an initial portfolio of projects in the cities of Rome, Naples, Pescara, and Padua; and the ‘Camplus Long Term’ fund, focused on attracting resources to existing operational residences.
The total investment amounts to €100 million, encompassing 900 beds, including €20 million invested in two residences currently managed by Camplus in Milan and Bologna. The management of the student residences within the real estate assets of both funds will be assigned to Camplus via long-term lease agreements.
The Norton Rose Fulbright team was led by Milan-based banking partner Gennaro Mazzuoccolo, with support from associate Chiara Conti and trainee Leone Sgaravatti.
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