Hines and Intesa Sanpaolo reached an agreement over Milanosesto
10 January, Milano Finanza
Milano Finanza reports that Hines and Intesa Sanpaolo found an agreement over the redevelopment of Milanosesto, in the former Falck area in Sesto San Giovanni. According to the plan, a vehicle company will take care of the development of the first lot covering a 1.4 million Sq m surface. The newco will have Milanosesto among its shareholders, while Hines will bring equity for approximately 250 million. Intesa Sanpaolo will finance the first 18 months of the project for an amount between 250 and 300 million euro.
Source: Milano Finanza
Translator: Cristina Ambrosi