Värde Partners acquires 20% stake in Italy’s Borio Mangiarotti

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Global alternative investment firm Värde Partners has acquired a 20% stake in Borio Mangiarotti S.p.A.,a Milan-based construction and real estate development company that has been active in Italy for nearly 100 years, through a capital increase.

This investment serves to further strengthen the partnership between Värde and Borio Mangiarotti that was established in 2017 to pursue real estate development projects in Italy. In particular, SEIMILANO is a key regeneration project in the west area of Milan, which involves the redevelopment of ​​over 30 hectares with an investment of over €250 million. The masterplan, designed by the architect Mario Cucinella, is a three-year plan to develop approximately 1,000 apartments (half of which will be for fixed price residential), 30,000 square meters of class A offices, 10,000 square meters of retail space and a nearly 200,000 square meter public park designed by the internationally renowned landscape architect Michel Desvigne.

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Edoardo De Albertis, Borio Mangiarotti’s CEO said: “We are happy with this step that marks the union of two partners that have a shared vision of growth, with the aim of strengthening Borio Mangiarotti’s position in the real estate development of Milan. The entry of Värde into the capital of Borio Mangiarotti will enhance our reciprocal strengths: industrial experience, know-how and knowledge of the market on the one hand; ability to allocate resources, financial and managerial skills on the other.”

Luca Malighetti, Värde Partners Managing Director and head of real estate investments in Italy, added: “Värde’s investment in this historic Milanese company is a recognition of Borio Mangiarotti’s deep expertise and reaffirms our commitment to the sector. We believe in the potential of Milan, one of the most interesting cities on the European scene, and in its residential market in particular, which continues to show room for growth thanks to a high demand for quality residential properties, in line with international standards.”

Lazard acted as financial advisor and Gianni, Origoni, Grippo, Cappelli & Partners served as legal advisor to Borio Mangiarotti S.p.A.; BNP Paribas and DLA Piper acted respectively as financial and legal advisor to Värde Partners.