Gruppo Statuto, the private company owned by Italian entrepreneur Giuseppe Statuto, has appointed CB Richard Ellis to market the sale of its San Donato site in Milan for an initial price of EUR 110mln, newspaper Il Sole 24 Ore reported on Monday.
Gruppo Statuto, the private company owned by Italian entrepreneur Giuseppe Statuto, has appointed CB Richard Ellis to market the sale of its San Donato site in Milan for an initial price of EUR 110mln, newspaper Il Sole 24 Ore reported on Monday.
The site, which has planning permission for a residential area of 100,000 m2, was acquired by Statuto a few years ago from New York-based investor First Atlantic. Statuto initially planned to sell the property to a real estate fund, Petronio, which it was about to launch together with UBS, but refinancing problems with the Royal Bank of Scotland eventually held up the sale. According to market rumours, potential buyers are Italian real estate investor InPartner and real estate tycoon Salvatore Ligresti.
