Borio Mangiarotti, Bain Capital join Hines in €250m residential project in Milan
The real estate developer Borio Mangiarotti, 20 percent owned since 2019 by the private equity fund Värde Partners, together with Bain Capital Special Situations, has plans to partner with Hines to invest in the EXTM urban regeneration project, located in the Ex Trotto Milano area.
The project aims to transform the 130,000-square-meter (1.4-million-square-foot) area, abandoned since 2012, into a new, predominantly pedestrian urban district, with services for the city, green spaces open to the community and an inclusive housing offer.
The investment by Borio Mangiarotti and Bain Capital Situations, with a value of more than €250 million, was created through the Bistrot Fund, managed by Natissa SGR, which acquired more than 46,000 square meters (495,000 square feet) from the Invictus fund, managed by Prelios SGR. This area will be used for the construction of approximately 600 residences for sale, with Borio Mangiarotti as general contractor.
The residential co