Brainsre compiles below the weekly news highlights.
- Construction has begun on a logistics development in Castelletto Cervo, Biella. The project involves expanding the existing warehouse with a new 26,000 square meter structure, including 800 square meters for office use. The building will be LEED Gold certified.
- The mayor of Castelletto Cervo, Omar Giletti, and representatives from Savills IM and Arab Bank Fund visited the construction site.
- The General Contractor FAST and SFRE, responsible for the expansion design, were also present. The tenant for the area will be Mondoffice, in collaboration with its subsidiary Raja Italia, which is already present in the existing structure.
Alternative Assets – Invimit sgr (MEF) seeks a partner for the recovery of Piazza d’Armi in Milan
- Invimit sgr, a subsidiary of the Ministry of Economy and Finance, has issued an invitation for expressions of interest in selecting a partner for the redevelopment and enhancement of Piazza D’Armi in Milan. The project involves the creation of a urban park covering 75% of the area and the development of approximately 135,000 square meters of buildable gross floor area.
- The initiative is part of Invimit’s broader program to enhance and sell public assets, with the project expected to attract investments of over 500 million euros. The asset will be transferred to a newly established reserved real estate AIF, the Virgilio Fund, initially managed by Invimit.
- Qualified investors interested in the project will have access to the information memorandum and can submit expressions of interest until July 24th. Selected participants will be invited to propose alternative structures, and upon receiving approval from Consob (the Italian securities regulator), they will be invited to submit binding offers for the transaction’s completion by 2023.
- The Bistrot Fund, managed by Natissa sgr, will invest 55 million euros in the development of Bistolfi 31, a new residential complex in Milan’s Lambrate district. The project will consist of 180 apartments spread across six buildings in a 12,000 square meter area.
- Natissa sgr has requested the issuance of surety bonds worth approximately 20 million euros to guarantee the operation. The bonds have been subscribed by a pool of national and international insurance companies led by Società Reale Mutua di Assicurazioni.
- Bistolfi 31, designed by Beretta Associati, is part of the ongoing urban regeneration in Lambrate. The residential complex will offer apartments ranging from one to four bedrooms, along with amenities such as a concierge service, common spaces, and a green park. Construction is scheduled to begin in September 2023.