Hines confirmed the launch of “Aparto” student accommodation platform in Italy, with two new residences totaling 41,000 sqm. The first facility will be operational from January 2022.
One of the residences, Aparto Milan Giovenale, is located between Via Giovenale and Via Col Moschin and will be spread over 16,339 square meters, will offer 584 beds of different types including en-suite, twin, studio, premium studio, and apartments.
The second building, Aparto Milan Ripamonti, which extends over 24,557 square meters, will open in September 2022. The 700-bed complex is located near Scalo Porta Romana, the future site of the Olympic village for the Milan-Cortina 2026 Winter Olympic Games.
Both properties are developed in partnership between Hines and the Blue Noble investment company.
Aparto Milan Giovenale was purchased through a fund managed by Savills Investment Management, while Aparto Milan Ripamonti was purchased through a fund managed by Prelios.
The Aparto brand is already expanding to other southern European countries, including Spain, where it will open two offices in Barcelona in 2022 and 2023.
Further Italian inaugurations are planned for 2025 also in Milan, in the Bovisa and Milan Sesto areas.