By IPE staff2021-02-10T12:41:00+00:00
German pension fund Nordrheinische Ärzteversorgung has partnered with an Invesco Real Estate fund to invest €150m in an Italian residential project.
The doctors’ pension fund, as a separate account client of Invesco, has formed a joint venture with the manager’s open-ended European Living Fund to invest in the 53,000sqm SeiMilano site which will be used for the construction of 600 apartments spread over 11 buildings.
Invesco said the urban regeneration project is being developed by Borio Mangiarotti and Värde Partner, the construction company will be Borio Mangiarotti. The project is expected to complete in 2024.
Assistedile, Raimondi Cranes agent for Milan, has erected seven crane for the construction of the Sei Milano development in Sella Nuova, on the West side of the Italian city.
The development will comprise residential complex with 524 apartments, commercial spaces and green spaces.
“We proud to contribute to the development of our city, and to serve Borio Mangiarotti, one of Italy’s most noted construction companies, on this occasion. Divided into three main areas, the development offered us the possibility to supply different crane models to best meet the jobsite requirements and client needs,” said Luciano Friso, managing director at Assistedile.