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SGT AREO Umbrella Fund acquires two Real Estates in Milan

In a significant move within the Italian real estate market, Arrow Global Group has announced the completion of the acquisition of two properties in Milan’s Navigli area, earmarked for urban regeneration. This development reaffirms Arrow Global’s interest in the Italian real estate sector, focusing on value-add and living segment transformations through urban regeneration strategies.

The acquisition, carried out by SGT AREO Umbrella Fund managed by Sagitta SGR, with Europa Investimenti acting as the fund’s advisor, involves properties purchased from two real estate funds managed by DeA Capital Real Estate SGR S.p.A. and Castello SGR S.p.A. These properties, part of a complex near the Naviglio Grande and the former Richard Ginori area, cover a total area of approximately 16,000 square meters. This location is known for its rich history of productive area requalification, now hosting renowned brands from the fashion, design, and communication sectors, and will soon be connected to the M4 metro line.

The plan for these buildings involves their conversion into high-end residential units, providing around 150 apartments and parking spaces. Emphasizing sustainability and innovation, the project will adhere to the highest ESG principles and sustainability certifications. Future residents will benefit from a wide array of services and amenities, funded through financing from UniCredit.

Arrow Global’s investment in urban regeneration seeks to address the pressing need in major cities to repurpose unused urban areas or buildings, aligning with best practices in energy transition and sustainability. Marco Grimaldi, Italy Country Manager for Arrow Global, expressed pride in this operation, highlighting it as a milestone for the Group’s Real Estate team in Italy and a significant step in expanding their activities in the country. It responds to the local real estate sector’s needs for whole area regeneration.

Donato Piscuoglio, Head of Real Estate at Arrow Global Italy, emphasized the operation as a reaffirmation of Arrow Global’s strategy in the Italian market, targeting value-added, opportunistic situations without limiting themselves to specific asset classes and staying ahead of market dynamics. Claudio Nardone, CEO of Sagitta SGR, expressed satisfaction with the team’s effort in completing the acquisition, which allows the funds managed by the SGR to expand their activities in the Italian real estate sector, identifying it as an area ripe with investment opportunities offering interesting risk-return profiles.

Luca Vaj, Real Estate Investment Director at Arrow Global in Italy, commented on the project’s future impact, stating that once completed, it would provide high-quality residences that will enhance an increasingly attractive area for residents. The successful completion was made possible through the dedicated collaboration of various teams, including Europa Investimenti’s Real Estate division, supported by internal Legal and Fund Management teams, and Sagitta SGR’s Legal Transaction team.

The operation was advised by a host of experts including JLL, Dils, SI – Studio Inzaghi, Yard Reaas SpA, Asti Architetti, Planeta Studio Associato, J&A Consultants, Dentons, and Studio Debernardi e Associati, highlighting the collaborative effort behind this ambitious project.

Arrow Global, as an alternative European asset manager specialized in private credit and real estate, demonstrates with this project its continued commitment to the Italian market, underlining its expertise in managing complex assets and its capacity to drive urban regeneration initiatives forward.

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Blogger and Investment Management Advisor with focus on Distressed Assets & NPL. Massimo is Chief NPL & Fintech Editor at Credit Village Magazine.

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