Legal

Terms of use for this website

This website is published by Stonehill Group for information purposes. By using it you accept the terms set out below.

No offer or advice

Nothing on this website is an offer or invitation to buy, sell or subscribe for any investment, nor is it investment, legal, tax or financial advice. Information on developments, pipeline and past transactions is provided for general interest and may change without notice.

Past performance of a completed development is not a guide to the outcome of any future project.

Accuracy

Room counts, programme dates, valuations and transaction values are stated as at the date of publication and are drawn from our own records and, where indicated, third-party sources. We take care to keep them current but give no warranty that all content is complete or free of error.

Computer-generated images of pipeline schemes are indicative and subject to design development and planning consent.

Intellectual property

The text, images, drawings, logos and layout of this website belong to Stonehill Group or its licensors. You may read and print pages for your own reference; any other reproduction or commercial use requires our written consent.

Third-party links

Where we link to press coverage or partner websites we do not control that content and accept no responsibility for it.

Governing law

These terms are governed by English law. Stonehill Group operates through separate legal entities in the United Kingdom, Austria, Germany, Italy and Hungary; references to “Stonehill” on this site mean the group as a whole and do not create obligations on any one entity.

Last updated
September 2026
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Stonehill
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About Stonehill

Stonehill is a leading developer of purpose built student accommodation and modern living across central and southern Europe.

About us ›
€265.9m
Total transaction value across four completed schemes
1,900+
Student rooms delivered
1,360
Rooms in the development pipeline

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.

View pipeline ›
Partners and counterparties
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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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The project

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Professional partners

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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Development and financing partners

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.

Investors and funding counterparties

PATRIZIA, Ardian / Rockfield, AEW, Allianz and M&G Real Estate appear as buyers or funding counterparties on Stonehill projects. See Capital Partners ›
Investment thesis · Mission statement
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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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Institutional purchasers

Headline transactions and counterparties

€265.9m combined headline transaction value
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Capital relationships

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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Market overview

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First mover

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.
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Sustainability

ESG & carbon neutrality

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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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Media coverage archive

Press articles, partner announcements and project features

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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.
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Matthew Cartisser · Founder

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.

37
Schemes delivered across seven countries
6.6m
sq ft of retail, office and living space
Poland

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.

Milestones
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Every article, press release and partner announcement, listed by date.
Media archive ›
‹ News & Insights

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Insights

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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Our offices

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.
Our offices

Contact us

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Have a question?

Message us

For business opportunities and projects.

Thank you — your message has been received.
‹ News & Insights
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In context — market sources
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Legal

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Last updated
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Questions about this policy, or a request relating to your personal data?
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Stonehill