Lendlease has established a joint venture with the Canada Pension Plan Investment Board (CPP Investments) for the investment in a dedicated Italian real estate alternative investment fund pursuing the development of Phase 1 of the West Gate area of the Milano Innovation District (MIND).
The joint venture between Lendlease and CPP Investments builds upon a strong relationship already established across projects at Barangaroo in Sydney and Elephant Park in London.
Housed on the former 2015 World Expo site, MIND is set to become a leading innovation district anchored by life sciences and technology tenants. The development will comprise more than 1 million square meters (10.8 million square feet) in surface area when including the public institutions. Lendlease’s private development rights cover around half the district’s area, which is 480,000 square meters (5.2 million square feet), with an estimated development end value of approximately €2.5 billion ($3.0 billio
