A new investment platform has been launched to develop Seimilano, a new mixed-use neighbourhood in Italy’s business and economic capital.
Ariadne SICAF is held by the Italian development company Borio Mangiarotti and the global investment advisor Värde Partners and will be managed by Prelios Sgr, the Italian real estate fund and asset manager, which will coordinate and supervise the development project and marketing activities.
The platform has been created by transforming Proiezioni Future S.p.A. into a fixed-capital investment company or SICAF.
Proiezioni Future had been established by Borio Mangiarotti and Värde Partners for the SeiMilano investment and urban regeneration project, under which a 330,000 sq m area is being developed into a new multifunctional district implementing latest-generation environmental sustainability standards and set in a fully serviced park.
ESG and sustainability principles inspired the scheme
“SeiMilano takes its inspiration from the ESG and sustainability principles of which Prelios SGR is a proud supporter,” said Prelios CEO Patrick Del Bigio. “It is an important step in the redevelopment of a large area in West Milan, which will establish a chain of urban parks in the Milan area with a view to creating a new eco-sustainable lifestyle approach for the benefit of the community.”
The SeiMilano project, designed by Mario Cucinella Architects and the Michel Desvigne international landscaping practice, will have 1,000 affordable housing units, 30,000 sq m of offices and 10,000 sq m of retail and commercial space. It will be a “garden city” within the city with several public spaces and squares for leisure and shopping, designed to promote integration with the residential areas and to create a sense of community.
“We are excited to be involved in one of the largest residential developments underway in Milan,” said Edoardo De Albertis, CEO, Borio Mangiarotti. “It is an innovative urban regeneration project involving a team of outstanding operators and institutional investors who reflect the prestige of the initiative and its prospects.”