Insights > Deals
Castello Sgr adds second Milan PBSA
27 May 2026 | Asset Acquisition | Italy | 385 beds | Re-development
Castello Sgr has acquired a site in Sesto San Giovanni, on the outskirts of Milan, to develop a new PBSA scheme with 385 beds.
Key details
Asset type | Re-development |
Location | Milan, Italy |
Capacity | 385 beds |
Buyer | Castello Sgr |
Seller | Undisclosed |
Value | Undisclosed |
Fund | Crosswind Capital Italia I Fund |
Source: Castello Sgr
The project will transform a vacant office building within one of Milan’s largest urban regeneration areas and sits close to another student housing asset acquired by the firm in 2025.
Backed by Crosswind Capital, the development will be managed by Domatia, with design by MVM Architetti.
Construction is expected to begin in Q1 2027.
Strategic context
Castello Sgr previously acquired a 25,000 sqm site in Sesto San Giovanni through its Casati IV fund, marking its first student housing investment in the area.
The former Magneti Marelli and Impregilo headquarters will be redeveloped into a purpose-built student accommodation scheme by Collegiate AC Europe.
The project is part of the wider regeneration of Sesto San Giovanni, transforming a historic industrial site into modern student housing to help address growing demand in the Milan market.
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