Morning Capital Srl Società Benefit, a real estate full service provider, has acquired 100 percent of the shares of La Ringhiera Srl Società Benefit, owned by Fondazione Servizi Universitari ETS (“SUN Foundation”), which has been active for more than 30 years in the management of university student beds.
La Ringhiera currently manages 300 real estate units, for a total of 1,100 beds in full occupancy distributed in Central-Northern Italy, mainly in Milan, Rome and Florence; the company, in addition to following the leasing processes, from the selection of real estate units and tenants to the stipulation and renewal of contracts, is responsible for the ordinary maintenance of the properties (coordinating with the properties' owners for extraordinary maintenance) and offers a cross-cutting and continuous assistance service in response to the multiple needs of tenants.
The acquisition-which will allow the group to reach a value of production of more than 12 million euros-is aimed at expanding in all Italian university cities, significantly increasing the number of beds thanks to the management engineering skills developed by Morning Capital. With this operation, Morning Capital will introduce among its services the new asset class of Student Housing and Co-Living, which will join the others already present: residential/Living, offices, Parking, Urban Open Space Management.
