Ariadne Sicaf – a company of Borio Mangiarotti and Värde Partners managed by Prelios SGR – has finalized the sale of the second residential lot of SeiMilano to Invesco Real Estate, a global real estate investment manager, which simultaneously signed a works contract with Borio Mangiarotti.
SeiMilano is the urban regeneration project being executed by Borio Mangiarotti, a long-standing property development company, and Värde Partners, a global alternative investment company, on a 330,000 sq.m site between Via Calchi Taeggi and Via Bisceglie in Milan. The project, by MCA - Mario Cucinella Architects, is transforming south-west Milan into an innovative multifunctional district, located in a new 16-hectare public park designed by Michel Desvigne Paysagiste.
The second SeiMilano residential lot, which is parallel with Via Calchi Taeggi and was also designed by MCA - Mario Cucinella Architects, will see construction of 11 buildings, for a total of 650 apartments all intended for multifamily rental. The work is scheduled for completion by the end of June 2025. “Another important international investor has decided to focus on SeiMilano, responding to its development potential,” commented Borio Mangiarotti CEO Edoardo De Albertis. “We are delighted with what we consider a positive move not only for our company but also for the entire sector which, given the rise in commodity prices, is experiencing difficult times.”
SeiMilano promotes a “residential park” concept at the service of the city. A modern urban development and landscaping project, it will transform the area and create a new landscape with a 160,000 sq.m park that not only provides a setting for the buildings but is integrated with the urban fabric and the lives of the residents. “Quality residential real estate is a key asset class for leading international institutional investors in Italy’s largest cities, especially Milan,” said Patrick Del Bigio, CEO of Prelios SGR, the Prelios Group asset manager, which manages Ariadne Sicaf. “With the sale of the second SeiMilano lot, Prelios SGR confirms the guidelines and forecasts shared with Ariadne Sicaf’s investors in connection with the fund subscription business plan, despite the impact on the market of recent macroeconomic conditions.”