(Finance) – Italian FS communicated that it was the sale was completed to REDEUS Fund – Closed-end real estate alternative investment fund managed by Prelios SGR – degli disused Farini and San Cristoforo railway yards by FS Sistemi Urbani, the lead company of the group’s Urban Polo. The amount of the sale is 489.5 million euros.
With the closing of this transaction, the urban regeneration program continues of the seven disused railway yards in the Lombardy capital, launched in 2017 with the signing of the “Scali Milano” Program Agreement by the FS Italiane Group, the Municipality of Milan and the Lombardy Region.
The agreement was born with the aim of redeveloping the former railway yards Farini, Porta Romana, Porta Genova, Greco-Breda, Lambrate, Rogoredo and San Cristoforo with a view to urban mending and allocating green spaces for aggregation for citizenship for more than half of their total surface area.