Invel Real Estate has secured a €34 mln financing facility from Italian lender BPM to redevelop an office-led building in Rome into 150 apartments.
The Dono-Domus Nova building was acquired in March through the Juniper fund managed by DeA Capital RE and is located at Paolo di Dono 223 in the Eur business district of Rome.
It will be redeveloped into 150 apartments for a total development cost of €80 mln.
Invel has hired Redbrick as development manager while Savills was hired to market the apartments.
