Patron Capital invests in Milan residential market in new partnership with FREO and Bluestone

Patron Capital, the pan-European institutional investor focused on property-backed investments, has formed a new partnership with FREO Group and Bluestone to acquire and develop residential projects in Milan.

The partners plan to invest approximately €250 million ($291 million) in the acquisition and repositioning of assets in this market and have exchanged contracts to purchase the first site.

The partnership’s debut acquisition is a former light industrial site, located at via Folli 24 in the Lambrate district. The partnership has plans to redevelop the disused buildings into a residential project comprising 40 units, which will be sold individually, and related amenities.

With a strategic focus on Milan, the partnership has plans to rapidly build scale following this initial acquisition and has identified a pipeline of further sites within the city. Funding for the acquisition comes from Patron Capital’s recently closed Fund VI.

Matteo BusÃ