Vitale, acting as financial advisor, assisted Proiezioni Future S.p.A. (JV between Borio Mangiarotti and Värde Partners) in the sale of a buildable plot of land in Milan, near the Bisceglie metro station, and signing of the relative Construction Agreement with Borio Mangiarotti.
The area was acquired by the “Park West Fund”, a reserved closed-end alternative real estate investment fund set up by DeA Capital Real Estate SGR and dedicated to the institutional investor Orion European Real Estate Fund V.
Three buildings will be developed in the area, mainly for office use, for a total SLP of ~27,600 sqm, for a total investment of ~€100 million.
The buildings are designed according to the most modern technologies, business needs and space optimization as well as energy efficiency, for which a LEED – LEED GOLD certification is expected.
The land is part of the SeiMilano urban regeneration project, which Borio Mangiarotti – a historic Milanese construction and real estate development company – and Värde Partners, a global alternative investment company, are developing on an area of over 300,000 sqm, which also includes the construction of about one thousand residential units, commercial spaces, green areas with the creation of a new network of pedestrian and bicycle paths.
Deal value: €100 m