on Aareal Bank AG (ETR:ARL)
Aareal Bank Finances €173 Million for PBSA Portfolio in Milan
Aareal Bank AG has completed a €172.7 million loan to Proprium Capital Partners for refinancing two purpose-built student accommodation (PBSA) properties in Milan. These properties qualified for green loan financing under the bank's Green Finance Framework.
This deal marks Aareal Bank's inaugural financing with Proprium Capital, an asset manager with €3.7 billion in equity. The properties are managed by Collegiate, a PBSA expert operating in the UK and Europe, overseeing more than 22,000 beds across 50 projects.
The portfolio consists of 1,200 beds, featuring amenities such as swimming pools, spas, and gyms. Situated near Milan's top universities, it attracts both domestic and international students.
Benjamin Walter of Aareal Bank emphasizes the strong demand for PBSA assets in European cities. Lorenzo Marcone from Proprium praised Aareal's market expertise for refining their portfolio.
R. H.
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