Bper Banca has provided a financing package exceeding €20 mln to support the redevelopment of a property in Milan's Certosa District.
The project is led by RealStep, a prominent multi-sector investment company (SICAF) specializing in transforming old industrial sites into sustainable urban spaces.
The property, located on Via Barrella 6, was acquired by RealStep's Section 4 in 2022 with Bper's initial bridge financing.
The plan is to convert it into a co-living space featuring 190 apartments. We Are Open (WAO), a proptech startup from OneDay Group, will be responsible for managing the living solution designed for young professionals.
Bper's Corporate & Investment Banking department structured the loan to be disbursed in stages, aligned with the project's construction progress. This redevelopment is part of a wider regeneration of the Certosa District that aims to create a vibrant neighborhood with cultural and social centers, smart housing options, and spaces that attract businesses, residents, and tourists.
Nicola Porcari, head of Structured Finance of Bper CIB, said: ‘We are pleased to be a partner in this operation which confirms Bper's commitment to urban redevelopment designs. In particular, the operation with RealStep has a strong focus on the living component. The operation has been structured following the most recent market best practices which sees us at the forefront with products, services and targeted consultancy, to support companies active in the recovery of industrial spaces to be redeveloped by revitalizing the relevant neighbourhoods.’
Vincenzo Giannico, general director of RealStep Sicaf, added: ‘The Milano Certosa District is a new model of urban regeneration, where the redevelopment of spaces develops around communities and passes through the integration of the services necessary to respond to people's needs daily. The co-living project, therefore, fits perfectly within this idea, because it will offer innovative, welcoming living spaces designed for people's well-being.’
