Italy
Portugal
The new joint venture of PGIM real estate with Cittamoderna makes its debut in living in Italy.
Dils has assisted Dea Capital in the sale of an asset in Milan, at Via Imperia 35, to the new joint venture initiated by PGIM Real Estate with Cittamoderna AM, thus marking PGIM Real Estate’s entry into the living sector in Italy with the aim of developing and offering residential solutions in strategic areas.
The building, which has a size of about 5,000 square meters, will be subject to a complete redevelopment and conversion into apartments developed according to the highest environmental standards.
Via Imperia is located within the southwest quadrant of the Municipality of Milan, in proximity of Romolo station (MM 2 and future Circle Line). The urban area, which hosts several university campuses such as IULM and NABA, is characterized by residential and tertiary buildings and benefits from the closeness to the Navigli canals, making the context particularly appreciated for a new residential address.
The project highlights the area’s vocation for urban regeneration and demonstrates the strong interest from international investors who are pursuing value-add investment strategies, through enhancement operations in the living segment.
This deal represents a further step forward for Dils, which reaffirms itself as a catalyst for new investors in the Italian landscape, helping to redefine the city’s appearance and create new investment opportunities.
