The Agedi Group’s Italian branch acted as real advisor in the acquisition of development site in the Lambrate district of Milan by a joint venture formed by Patron Capital, BlueStone and Freo Group.

A new residential complex comprising 100 units with garages and cellars will be built in this site where once the former “Cinelli” bicycle factory was located, for a total of 9,000 sq m and a total value of approximately 40 million euros, funded by Patron Capital’s Fund VI, recently raised. The construction works will start at the beginning of 2023.

Valeria Genesio, chairwoman of Agedi Italia, said: “This transaction confirms the steady confidence of the real estate players, both Italian and international, in the Milan residential market which, in the just-ended 2021, has even improved the pre-Covid performance of 2019 and has given proof of its reactive adaptability to the changing living needs arising from the pandemic by offering new innovative and more usable housing solutions“.

Read the full news: https://www.monitorimmobiliare.it/patron-capital-con-bluestone-e-freo-acquista-area-in-via-egidio-folli-a-milano_20221241229