The requalification of Extm, the former Milan hypodrome 130000 sqms area, will require a 250 million worth investment (see here a previous post by BeBeez). As BeBeez previously reported, Borio Mangiarotti, of which Värde Partners has 20% since 2019, will act as real estate developer with investors Bain Capital Special Situations and Hines. Borio Mangiarotti will build 600 residential units over a 46000 sqms area. The developer hired Banca Imi, Dentons and Todarello&Partners. Italian gambling company Snaitech sold the EXTM area in 2020.
CityLife, a subsidiary of Milan-listed Assicurazioni Generali that owns of the eponymous Milan district, receved the authorization for building CityWave, a building that will be complete by 2025 (see here a previous post by BeBeez). CityWave aims to innovate di concept of workplace. The building will have photovoltaic panels on its roof. LCA Studio Legale assisted the builders Colombo Costruzioni and CMB. Aldo Mazzocco is the ceo of Generali Real Estate and chairman of CityLife. Gabriele Galateri di Genola is the chairman of Assicurazioni Generali. The construction of CityWave will require investments worth 180 million euroa. Architects firm BIG – Bjarke Ingels Group carried on the project.
Milan-listed Igd – Immobiliare Grande Distribuzione Siiq is going to carry on an up to 400 million euros senior non-subordinated and non convertible bond that only institutional investor may subscribe (see here a previous post by BeBeez). The bond will mature on 28 November 2024 (ISIN XS2084425466). The company will invest such proceeds in refinancing its maturities.
On 26 September, Tuesday, Azimut Libera Impresa‘s Infrastrutture per la Crescita – ESG (IPC), Specht Group Italia and Italian builder Carron launched Guild Siena, an Italian senior living project (see here a previous post by BeBeez). Eugene Marchese and Michael Eggington founded Guild Living. Luca Landini is the ceo of Specht Group Italia, a subsidiary of German Specht Gruppe. Sources said to BeBeez that the firms aim to launch further senior living communities in Turin and on Garda Lake in December 2024 and open a total of 10 Guild Communities in the next five years.
