Gabetti Agency acted as advisor for Torre Sgr as manager of the mutual closed-end real estate investment fund reserved for qualified investors and known as “SCOIATTOLO”, for the sale of the residential development area situated in Milan, at Via Pestalozzi, 18. The asset was purchased by the cooperative Habitat Navigli of Consorzio Cooperative Lavoratori di Milano for a total value of €22,500,000. The development will involve construction of a residential complex under free construction and subsidised construction for approximately 10,000 sqm, in addition to collective areas, green space, and sports and coworking areas.
Claudio Santucci, Head of Capital Markets Italy of Gabetti Agency comments:“ The successful conclusion of this transaction, thanks to the professionalism of all parties involved, further consolidates operators’ interest in the residential asset class, which is at an all-time high in the city of Milan. The operation itself demonstrates an increasing interest in peripheral areas but with high potential, in assets to be reconverted and regenerated with a concrete focus on environmental and social sustainability issues”.