Greystar expands into Italy with first investment in Bologna

Milan, 27 October 2026 - Greystar, a global leader in the investment, development and management of rental housing, today announces its expansion into Italy, its ninth European market, with the acquisition of its first development site in the country for a new 400-bed student housing community in Bologna.

The move marks the next phase in the growth of Greystar's European business, building on the platform it has established since first entering the region in 2013. Greystar aims to build a student housing platform of at least 2,500 beds in Italy by the end of 2027, with the ambition of becoming one of the country's leading operators. Bologna is the starting point, with opportunities also being explored in Milan, Rome, Florence and Turin.

With the addition of Italy, Greystar's European business has more than €20 billion of assets under management, over 93,600 BTR homes and PBSA beds and around 1,400 team members. Greystar's European value-add strategy has more than €6.8 billion of investment capacity for acquisitions and development across European rental housing, including student accommodation.

Rafael Fernández-Villaverde, Managing Director - Southern Europe, Greystar, said: "We have been looking at Italy for some time and believe it presents a compelling investment opportunity. Italy has a large university population, high levels of student mobility and a significant shortage of purpose-built accommodation. We see considerable potential to bring more high-quality student housing to the market, starting in Bologna.

"Our ambition goes well beyond one project. We are targeting significant scale in Italy, with at least 2,500 beds in our sights by the end of next year. What sets Greystar apart is that we don't simply invest in student housing. We develop and manage it too, bringing together the capital, expertise and operational experience needed to build a successful platform. Housing is inherently local, so establishing the right team and relationships on the ground will be fundamental to how we grow."

Greystar is building a local team to support its expansion in Italy and has established a strategic alliance with Redbrick to help identify and progress new investment opportunities. The company has also established an Italian investment structure, with Savills Investment Management acting as fund manager, to support its investment activities in the country.

Nicola De Martino, Founder and Managing Partner of Redbrick, commented: "Together with my partner and co-founder Alexio Pasquazzo and our Managing Director Giuseppe Scavolo, we are pleased to join forces with Greystar in building a leading student housing platform in Italy. By combining Greystar's global expertise and investment capabilities with the local market knowledge, relationships and development experience of the Redbrick team, we see a unique opportunity to deliver high-quality student accommodation at scale. Bologna represents an important first step in what we believe will be a successful partnership."

Bologna is one of Italy's leading university cities, with around 87,000 students, approximately 55,000 of whom come from outside the city to study. This represents 63% of total enrolment, reflecting strong domestic student mobility as well as international demand. Despite this, institutional purpose-built student accommodation currently serves only around 5.4% of the market, with provision expected to reach approximately 10% even after identified future developments are completed.

Greystar's first Italian investment is located near Porta Mascarella, in Bologna's historic city centre, close to the University of Bologna and other higher education institutions. The university's main Campus Centrale is approximately five minutes by bike or 13 minutes on foot.

The development has a building permit in place and will provide 400 student beds, with a mix of standard and premium studios and twin rooms. Shared amenities will include study and coworking areas, a rooftop pool, gym, social spaces and lounges, alongside retail and food and beverage space. The development is targeting BREEAM Excellent certification.

Construction will begin immediately, with Di Vincenzo Dino & C. S.p.A. ("DVC") appointed as general contractor. ING has provided a €45 million financing package comprising a green construction facility and a VAT facility, acting as mandated lead arranger, lender, agent, green coordinator and hedging bank.

Mascarella will operate under Canvas, Greystar's established European student and young professional rental housing brand. Launched in 2021, Canvas has 17,790 beds across 44 communities in seven countries, combining well-designed accommodation with spaces for studying, socialising and wellbeing, supported by dedicated onsite teams. Mascarella will be the brand's first community in Italy.

Globally, Greystar manages more than 1.1 million apartments and beds. As a rental housing specialist, Greystar brings together investment, development and property management within one platform, combining global scale and experience with strong local teams and partnerships.

Greystar was advised by Jones Day as its principal legal adviser, with additional support from JLL, Deloitte and Studio Legale D'Ettorre. ING was supported by DLA Piper as legal advisors.