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400 million in trophy assets from Sorgente

06 November, Milano Finanza

The partnership between the German Phoenix Development and Sorgente Sgr has been launched.  The companies will carry out investments for 400 million euro in trophy assets in Venice, Florence and Milan through the fund Re Development (managed by Phoenix Development and Sorgente Sgr). The investments will mainly concern residential properties (already existing or to be developed), as well as golf facilities in Italy (golf camps, clubhouses, hotels, guestrooms and offices) in preparation for the prestigious Ryder Cup 2022 in Rome.

There are two projects currently being evaluated: the conversion of a historical building into a senior housing facility and the implementation of a mixed-use residential and hospitality complex.

Source: Milano Finanza

Translator: Cristina Ambrosi