DeA Capital Real Estate SGR S.p.A., a leading Real Estate Fund Management Company in Italy, on behalf of the closed-end real estate alternative investment fund “HighGarden”, has signed a loan agreement with Banco BPM S.p.A., to finance the development of the first out of three plots of land owned by the Fund, located in the Municipality of Basiglio – Milano3, in the immediate outskirt of Milan.
The area involves 23,200 sqm of gross buildable surface (SLP), mainly intended for residential use.
The area is included into a wider urban regeneration project, extending on a gross area of approx. 180,000 sqm, acquired by the HighGarden Fund in June 2019, for the realization of a real estate development project involving overall 60,000 sqm of SLP with residential intended use.
Vitale acted as financial advisor, providing the client with constant and professional assistance, in the definition of the structure, terms and conditions of the transaction and in negotiations with counterparts.
Deal value: €45 m