Italy's listed real estate group Risanamento said on Thursday that it is in initial negotiations with asset manager Hines Italia about the sale of its flagship Milano Santa Giulia mixed-use project.
Italy's listed real estate group Risanamento said on Thursday that it is in initial negotiations with asset manager Hines Italia about the sale of its flagship Milano Santa Giulia mixed-use project.
Risanamento said preliminary talks started at the end of July and added that no formal expression of interest has been received yet.
The Milan-based developer has been trying to sell the development site for months, but talks with a previous investor consortium fell through in late 2011.
Banca Leonardo is advising on the deal.
Designed by Norman Foster, the Milano Santa Giulia development comprises almost 1 million m2, mostly for residential, office and retail use.
