Insights > Deals
UniCredit provides €41.4 million for LIFE Group's Milan PBSA conversion
22 September 2026 | Development finance | Italy | 600+ beds | Re‑development
The loan supports the acquisition and conversion of a Cologno Monzese office into LIFE Group's first Italian PBSA project.
Key details
Asset type | Re‑development |
Location | Cologno Monzese, Italy |
Capacity | 600+ beds |
Borrower | Milano Student Living S.r.l. (LIFE Group) |
Lender | UniCredit |
Value | €41.4 million |
UniCredit has provided a €41.4 million bilateral mortgage loan to Milano Student Living S.r.l., a LIFE Group vehicle. The facility supports the acquisition and redevelopment of an existing 15,000 sq m office building in Cologno Monzese, near the M2 metro. The conversion will create more than 600 PBSA beds.
LIFE says it is its first project under construction in Italy.
Strategic context
The financing gives LIFE committed capital for its first Italian delivery and creates a scalable entry into the Milan market through adaptive reuse.
For UniCredit, it adds a social‑infrastructure transaction in a market with a structural shortage of student accommodation.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.