Italian alternative real estate developer RealStep acquired a 13,000 m2 stand-alone asset in Milan from a fund managed by Savills I.M. for an undisclosed price.
The deal was conducted through RealStep Sicaf, one of the first multi-compartment real estate Sicaf authorized in Italy by Bank of Italy, focused on the redevelopment of industrial areas in Milan.
The building, located in Via Barrella 6, is being redeveloped as part of a broader project for the Certosa area, strategically close to the Bovisa Campus (Politecnico di Milano), Sacco Hospital and MIND innovative district.
The area benefits from the proximity of the Certosa railway station, future stop of the Circle Line, and the 200,000 m2 F. Verga public park.
In March 2022, RealStep announced a partnership with global real estate firm Jamestown to revitalize Milan’s Certosa neighborhood as a vibrant center of culture and innovation.
The Certosa District multi-dimensional regeneration project includes new and reimagined office, retail and open greenspaces, as well as neighborhood-wide event programming.
The redevelopment will maintain portions of the existing industrial buildings while adding more than 15.000 m2 of new-built office.
Dils, which acted as advisor in the sale of the asset, is supporting major national and international operators in identifying locations with unexpressed potential for further enhancement.
