Alston & Bird advised Proprium Capital Partners, a global real estate private equity firm, on the successful closing of multiple investment vehicles, with total capital commitments of over US$113 million from institutional investors, for the acquisition of purpose-built student accommodation (PBSA) developments in Italy. The new developments will bring the value of Proprium’s Southern European PBSA platform, formed with Collegiate AC Europe Ltd. in 2019, to over US$700 million in Italy and Spain.
Representing Proprium Capital Partners was an Alston & Bird team led by partner Amie Benedetto, senior associate David Fratto, and associate Katherine Morrow (Investment Funds); partner Danny Reach and senior associate John Harden (Federal & International Tax); and partner Meredith Gage (Employee Benefits & Executive Compensation).