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MilanoSesto transferred to Prelios and Hines with Intesa Sanpaolo funding

07 May, Bebeez

The developer Bizzi&Partners entered an agreement to transfer the requalification project of MilanoSesto. The deal implies the transfer to Prelios of 100% of the capital of the newco Milanosesto Development, which manages the project and provides the related services. Intesa Sanpaolo was involved in the process as the main creditor, while Hines will bring new capitals and investors. Prelios paid about 50 million euro for the acquisition after Brizzi recapitalized the newco for 45 million euro.

Source: Bebeez

Translator: Cristina Ambrosi

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