- Date:April 2020
Vitale&Co Real Estate acted as financial advisor, assisting Hines, privately owned global real estate investment, development and management firm, with regard to the acquisition of the former Trotter racecourse of San Siro in Milan, for a gross surface of 150,000 sqm of developable land.
The area has been acquired from Snaitech, Italy’s leading operator in the legal gaming sector, through the real estate fund “Invictus” set up and managed by Prelios SGR.
The area, which has been abandoned for sportive use since 2013, would be transformed into an important mixed use project with a predominantly residential use.
The preliminary urban regeneration project, to be submitted to the competent authorities in the coming months, intends to renovate the area by opening it to the city of Milan.
A first development proposal would include a park of over 30,000 sqm, in line with the green vocation of the district, and a residential offer with an important share for rent at fixed price, both in line with Hines’ strategic vision.
Vitale&Co Real Estate provided for assistance in underwriting, defining the most efficient structure and negotiating the terms and conditions of the transaction with the counterparty.
- Deal value:
approximately €350 m