Cheyne Capital Real Estate, Bain Capital Special Situations announce completion of €250m senior loan
Cheyne Capital and Bain Capital Special Situations have completed a senior loan of €250 million ($264 million) to fund the development of around 170 new homes in the Lambrate district and of around 600 new homes in the former Trotto area of Milan in partnership with Hines.
This represents the fifth transactions that Cheyne Capital and Bain Capital have executed together. In this case, the Bistrot Fund, managed by Natissa SGR and invested by Bain Capital and Borio Mangiarotti, has acquired circa 100,000 square meters (1.1 million square feet) of land from the Invictus Fund, managed by Prelios SGR. Previously, the same fund acquired 16,000 square meters (172,223 square feet) of land from Sammontana in the Lambrate district (BST31).
The Trotto residential complex will be part of the Hines’ new urban district masterplan called EXTM. This urban regeneration project will transform the former Trotto area in the San Siro district into a new innovative, sustai