Stonehill is a leading developer of purpose built student accommodation and modern living across central and southern Europe.
About us ›Stonehill’s capabilities extend from origination through the development phase and into operations and management.
Capital Partners
Long-term investment structures for institutional partners seeking stable, premium PBSA income across Europe.
Learn more ›Development Activity
Milan, Passau and Padua — 1,364 new rooms under way for the 2028/29 academic year.
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Click a marker to see the residence. Charcoal markers are completed schemes; green markers are the pipeline.
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A small circle of long-standing consultants, contractors and operators.
Design development is outsourced to a limited number of third-party practices with whom Stonehill has built close working relationships over many years. Their experience in student accommodation is carried from mature markets into each new city, while local architects, engineers and advisers ensure every scheme meets precise planning and regulatory requirements.
Stonehill works with London-based architects tp bennett on the design concept stage of each project. Local architectural practices in each market then refine the design and navigate local planning regulations through to consent and delivery.
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Stonehill also works with Pegasus Capital Partners, its Vienna development and financing partner; Invel Real Estate, which announced an initial €18 million investment in the Milan and Padua projects in June 2026; and Raiffeisenlandesbank Oberösterreich, which provided senior development debt for the Vienna student residence.
PATRIZIA, Ardian / Rockfield, AEW, Allianz and M&G Real Estate appear as buyers or funding counterparties on Stonehill projects. See Capital Partners ›
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Our strengths
Stonehill has acquired a valuable, pan-European overview of student requirements in different markets. The group has a strong development management capability, based on the broad international experience of its construction managers over many decades.
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Headline transactions and counterparties
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Who we work with
Stonehill incorporates different financing and exit strategies for its developments, often utilising its long-standing relationships with senior lenders, JV partners and institutional purchasers to complete and exit its projects.
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Via Sebastiano Serlio, Bologna
Stonehill was a first mover in the Italian market with the development of the 532 room landmark asset at via Sebastiano Serlio in Bologna. Serving the University of Bologna, it is among the tallest buildings in the city. Stonehill operated the building for a number of years before exiting the project to Ardian / Rockfield in February 2025.
ESG & carbon neutrality
With rapidly changing attitudes towards achieving zero carbon impact, Stonehill consistently delivers projects with high energy efficiency and minimal embedded and operational carbon emissions. It also makes commercial sense to minimise overhead costs and optimise the net operating income, as well as contribute to long-term decarbonisation.
Stonehill deploys a wide range of active and passive carbon saving technologies. These include high levels of insulation, roof mounted PV panels and smart building monitoring systems. In all of its developments where technical conditions allow, Stonehill deploys heat pump technology – either GSHP or ASHP systems, providing both winter heating and summer cooling.
Stonehill aims to achieve LEED Gold Certification for all its projects, whenever possible.
In the German market, Stonehill aims to build to Effizienzhaus 40 standard to reduce environmental impact.
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Press articles, partner announcements and project features
Summaries are Stonehill’s own short descriptions of third-party coverage and link to the original publishers. They are not reproductions of the articles, and inclusion does not imply endorsement by the publisher.
Decades of experience across different European commercial real estate asset classes that built Stonehill.
Stonehill was founded by Matthew Cartisser, a Cambridge law graduate who has been involved in the property sector for most of his professional life. One of the first developers to enter the Polish real estate market in the early 1990s, he pioneered one of the nation’s first business parks in Warsaw before turning his focus to student accommodation and contemporary living.
Drawing on the maturing UK market for student housing, Matthew led Stonehill’s expansion across Europe — from Vienna’s Dresdnerstrasse residences, among the first modern PBSA schemes in Austria, to landmark projects in Bologna and Turin, and a growing pipeline in Milan, Padua and Passau.
Matthew was one of the first Western developers to enter Poland after 1989, pioneering Wiśniowy Business Park in Warsaw — six office buildings and one of the nation’s first business parks — and in Katowice he set up the development of Silesia City Center, a 951,500 sq ft shopping centre built on a former coal-mine site that became one of the largest retail destinations in the country.
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Perspectives on living, development and energy infrastructure
Stonehill’s own analysis, informed by our work developing and operating purpose built student accommodation across Europe.
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Local teams across Europe
Stonehill’s head office is in Luxembourg, with dedicated local teams in London, Munich, Milan, Bologna and Vienna. Zoom in to each city and click a marker for the address and contacts.
Contact us
Message us
For business opportunities and projects.
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