Complete recovery of Milano Santa Giulia transfer to Lendlease MSG Heartbeat fund

Complete recovery of Milano Santa Giulia transfer to Lendlease MSG

(Tiper Stock Exchange) – Remediationa property company listed on Euronext Milan, communicated that they have been finalized the documents relating to the Project Starfighter operationrelating to the transfer of the entire denominated development area Milan Santa Giulia (except for what has already been sold to Esselunga and the CTS Eventim Group) for a consideration of 648 million euro, to the closed-end mutual fund managed by Lendlease Italy SGR.

The fund, called Lendlease MSG Heartbeatwill take care of the real estate development, as part of the Integrated Intervention Plan, of the residual building area of ​​385,091 m2 for mixed use, to complete the approximately 265,000 m2 already built in the southern area near the Rogoredo station.

The Project Starfitghter – as part of a plan that ensures the economic and financial equilibrium of Risanamento – allows the group to obtain the financial resources necessary to fulfill, with reference to the Milano Santa Giulia development initiative, its commitments for the reclamation and infrastructural works undertaken with the public authorities, and therepayment of its entire financial debt with the banking system (equal to around 572 million euro as at 30 June 2023).

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