Pat tries again selling the building in Via Santa Maria in Milan

20 January, Il Giorno

Pio Albergo Trivulzio (Pat), ancient retirement home and hospital in Milan, tries again selling the building block in 15/17 Via Santa Maria: 2,700 Sq m in the heart of the city, 29 units, 12 of which are occupied, as reminded in the tender published on 10th January on the website. The offers must be submitted by 14th March at 12 pm. The starting price is 13 million 534,390.76 euro, same price as last years. That time the auction went inquorate: the developer Consap srl made a bid, accepted by Trivulzio, but the company didn’t pay the 1.3 million-deposit and let the time for signing the preliminary agreement expire. In September, the Pat General Director Claudio Sileo revoked the acceptance and the property was back on the market without the 20% discount applied for previously inquorate auctions, as the price had already dropped to 16.9 million last year from the end of 2015. The property in Via Santa Maria was included in the portfolio “family jewels” put on the market after the “Affittopoli” scandal together with the buildings in 5 Via della Spiga and 91 Corso Porta Romana. Only the current management has been able to sell the former for 37 million, with a 50% price charge, and the latter for 11.4 million. In this way, the new management can register again profits after 7 years, reducing its debt to 50 million.

Source: Il Giorno

Translator: Cristina Ambrosi

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