Italian fund manager EstCapital said on Thursday that it has been granted a EUR 94 mln financing for the acquisition and the redevelopment of the former Al Mare hospital in Venice. Bank Unicredit and BNL acted as mandated lead arrangers; Banca Popolare di Vicenza, Credito Bergamasco and MPS Capital Services also participated in the financing.
Italian fund manager EstCapital said on Thursday that it has been granted a EUR 94 mln financing for the acquisition and the redevelopment of the former Al Mare hospital in Venice. Bank Unicredit and BNL acted as mandated lead arrangers; Banca Popolare di Vicenza, Credito Bergamasco and MPS Capital Services also participated in the financing.
The asset, which was bought the group's Real Venice II fund from the Venice municipality for EUR 61 mln, will be redeveloped to provide new residential areas and services. The deal is expected to close by June 2012.
Law firm NCTM advised the banks; DLA Piper acted for EstCapital SGR.
