RELIFE Padova
Padova sits in the Veneto region of northeastern Italy, roughly 40km west of Venice and positioned on thestrategic Milan-Venice corridor, linking Padova to Italy's principal commercial centers via high-speed rail.
Site History
The site at Via Brigata 19 sits at the cusp of Padova's historic city centre. Originally built in 1960 and known as the Casarma Cimarrutta, the complex served for decades as a police barracks.
Having acquired the site in 2024, Real Asset Capital, through their RELIFE brand, are transforming the building into an outstanding PBSA development, building on their success at RELIFE Torino I & II.
1960
Originally built
2024
Acquired
Q3 2028
Opening
PropertyDescription
Designed by leading architect Lombardini22, the asset is set to deliver 247 beds across 214 rooms within 9,320 sqm of GLA. The scheme will be developed within the fabric of the existing buildings to create a cutting-edge student scheme, set to open in Q3 2028.
At RELIFE Padova, students can choose from a variety of room categories including single ensuite, twin ensuite and single studio alongside a wide range of amenity spaces. This includes a library, communal kitchen, TV room, games room, social bar, roof terrace with basketball court and a F&B cafe space.
Choose what to discover
ExistingSupply & Pipeline
Current PBSA bed provision in Padova is acutely limited, with a provision rate of approximately 5% as of 2025.
Total bed supply remains highly constrained at just under 4,000 beds and is dominated by public DSU accommodation (heavily subsidised accommodation provided through the Diritto allo Studio Universitario), with private structured PBSA representing a negligible share of stock.
Current investors in Padova include King Street Capital, Proprium, Legal & General, Praemia REIM and Stonehill, Invel – demonstrating the city's appeal to institutional capital.
Given the severe undersupply in the city, the supply pipeline is woefully inadequate to meet the growing student demand – ensuring Padova has sustained rental growth and occupancy strength.
Rental Market
Prime PBSA rents in Padova stand at approximately c€850-€1,300 per month for a single room, the most accessible of the major Italian markets and below Milan at c€2,000, with Florence and Rome at c€1,600. This will continue to drive student attraction towards Padova, allowing significant headroom for rental growth as the market is currently characterised by capped-rent DSU stock and fragmented private supply.
Across Italy, prime rents are being driven by premium amenities, service quality and university connectivity, with the gap between prime and average rents underscoring the value proposition of full-service PBSA. A new, professionally operated scheme in Padova is positioned to capture the upper end of this rental spectrum within its catchment.
The fundamental demand and supply imbalance in Padova, demonstrated through the number of international students in the city doubling between 20/21 and 24/25 with a CAGR of 19.3%, supports strong rental growth going forwards.
Market Comparables
| Unit Type | Unit Name | Price Per Month | Term Length |
|---|---|---|---|
| Shared Ensuite | Double Room | 500 | 12 Months |
| Non-Ensuite | Single Room | 770 | 12 Months |
| Ensuite | Single Room | 850 | 12 Months |
Bed Count: 204
Amenity Provision: Gym, study rooms, conference room. Lobby with reception and dining area. Weekly clean of bedroom and bathroom, weekly change of towels and bed linen.
Specification: Simplistic specification and design of a substantially inferior quality to RELIFE Padova.
Location: Situated North East of the city centre, positioned a 15 minute walk from University of Padova buildings.
Investment Market
Padova combines acute structural undersupply, a prestigious university and limited opportunities to build new PBSA.
Even with the low upcoming pipeline, supply simply cannot keep up with demand.
Institutional capital is active in Padova including Praemia REIM, Proprium, Legal & General, Stonehill, Invel and King Street Capital.
RELIFE – Via Brigata Padova 19, Padua
Indicative Construction Programme ·
454 days · Jul 2026 – Apr 2028
Contract signing
1 Jul 2026
Mobilisation & site setup
Oct 2026 – Jan 2027
Structural works (Blocks A/B/C)
Mar – Sep 2027
MEP installations (elec / mech / lifts / PV)
Feb 2027 – Feb 2028
External works & landscaping
Oct 2027 – Feb 2028
Estimated handover – Block A
3 Mar 2028
Construction design
Jul – Oct 2026
Façade works (timber precast + glazed)
Jul 2026 – Aug 2027
Strip-out & demolition
Jan – Jun 2027
Finishing & fit-out
Aug 2027 – Feb 2028
Testing, commissioning & cleaning
Feb – Mar 2028
Completion / End of works
5 Apr 2028
Workstreams run in parallel; dates indicate each workstream's overall span.
Source: GARC, Project 250018_Relife, issued 04 Jun 2026. Indicative only and subject to change.
Development Team
With every project, Real Asset Capital partners with the foremost suppliers and advisors in Italy, offering institutional capital substantial comfort. This includes award-winning architects, engineers, legal advisors, and contractors.
Architect: Lombardini22
Lombardini are a market leading architect, interior designer and branding specialist within Italy. At RELIFE Turin, the team handled the interior design of rooms, common areas, and courtyard, the façade concept as well as the brand identity. Having previously designed RELIFE Torino, they are the perfect partner for RELIFE Padova.
Contractor: GARC
GARC Costruzioni S.p.A. Società Benefit ("GARC") is an established Italian general contractor headquartered in Carpi (Modena), founded in 1975. They are a full-service builder that operates as an EPC (Engineering, Procurement and Construction) contractor managing the complete building lifecycle. GARC are differentiated by high safety standards, cost optimisation, certified quality and firm delivery timescales whilst also being a recognised leader in technology and sustainability. GARC are the first Italian general contractor to obtain UNI BIM 7D certification and the first Italian construction company to secure B Corp certification.
GARC worked closely with Real Asset Capital and RELIFE to deliver RELIFE Torino, creating a best in class scheme, with exceptional operational performance, sold to an investor within the first year of opening. Together, they are set to bring forward the scheme at RELIFE Padova.
Some of GARC's clients include: Barilla, Bosch, Ikea, Lamborghini and Coca Cola.
Developer: Real Asset Capital
Real Asset Capital is a Geneva-headquartered, full-service value-add real estate developer focused on sustainable projects across Europe. The business operates across multiple asset classes, with particular experience in residential, hospitality, PBSA and mixed-use projects, combining investment, development, redevelopment, repositioning, asset management and property management expertise. Real Asset Capital's executive team has managed over CHF 2 billion across different geographies, product types and risk profiles, including major residential, retail and mixed-use investments. This is alongside the sale of a CHF 500 million listed fund to a major Swiss private bank in 2019. The platform is led by founder Ralph Kattan, who has over 20 years' real estate experience and has managed more than $2 billion of funds across the sector. Through its RELIFE student housing platform headquartered in Milan, Real Asset Capital is continuing to grow its presence in the European PBSA market. The team delivered and sold RELIFE Torino I and II last year and have an exceptional pipeline throughout Italy with all schemes positioned around modern, responsible and sustainability-led student accommodation.
Operator: RELIFE
RELIFE continues to operate RELIFE Torino I and II developed by Real Asset Capital and constructed by GARC, following its sale to an investor, having been 100% let since completion. They have exceptional experience in operating Italian PBSA and are bringing forward their expertise and learnings from RELIFE Torino, into both Padova and Pisa.
