Vitale & Co. 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, to Invesco Real Estate, global real estate asset management company.
The agreement involves the sale and development of the second residential lot of SeiMilano, an urban regeneration project located in the immediate vicinity of the “Bisceglie” underground station in Milan, with signing of the relevant Construction Agreement with Borio Mangiarotti S.p.A..
Invesco Real Estate is investing over €150 million for 53,000 sqm of commercial surface within the project. The residential lot acquired, which will be built in parallel to Via Calchi Taeggi, envisages the construction of approximately 650 apartments distributed over 11 buildings which will be entirely destined for multi-family for rent.
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, 30,000 sqm of offices, commercial spaces, green areas with the creation of a new network of pedestrian and bicycle paths.
Vitale & Co. advised Proiezioni Future S.p.A. on sale of a buildable plot of land in Milan to Invesco Real Estate