We have pleasure in announcing the acquisition of MilanoStanze, the second largest company in the sector operating in Milan.
MilanoStanze was set up by Dario Vittorio Mortini and Pierpaolo Zampini in 2011 and developed rapidly in the Milanese market as one of the main players in the management of properties for students and young workers due to its highly personalised and technologically advanced service. The acquisition of MilanoStanze, which manages 173 apartments, all in the city, for an overall 20,000 m2, enables us to increase our offer to about 1,500 properties with about 8,000 beds and 300,000 m2.
Valerio Fonseca, our CEO, commented, “The operation is an important milestone in our development plan, taking the DoveVivo managed portfolio in Milan planned for the end of the year to about 5,000 beds , thus reaching a position of absolute leadership in the main market in Italy for size of business and growth potential. We have a very strong team at all levels of governance (shareholders, Board of Directors and management), we have solid financial and capital standing, we’ve managed the company in a healthy way and we have a clear business model. These are all factors which, even at this time of great difficulty, allow the group to develop with greater intensity in both Italy and abroad, starting from France and Spain, markets where we’re already starting businesses and hiring the first people. The aim is and remains to be the largest co-living platform in Europe with 30,000 beds and a turnover of more than Euro 150 million in 2023; we’re looking at the world of real estate investors considering entering the co-living and student housing sectors with great interest.”
Dario Vittorio Mortini and Pierpaolo Zampini, directors of MilanoStanze, added, “Considering the historical context in which MilanoStanze has built its business success and the macro-economic one of the development of the City of Milan, we made the choice of entrusting the treasure built-up in these years to the reference player in Italy, conscious that it will be managed in the best way in the coming years. So we have all the guarantees that owners of properties, tenants and company employees can benefit further from working in and with this solid company.”