RealStep SGR concludes a financial reorganisation operation for the Certosa District: Banca Finint enters as co-financer
– The agreement envisages the entry of Banca Finint with a EUR 15 million line from the PNRR Integrated Urban Plans Thematic Fund
– Unicredit reschedules the original loan to around 50 million
– The project to revitalise the north-west/Certosa area of the city promoted by Realstep, recently reorganised into SGR, continues.
– By the end of 2025, 7,000 m2 of via Varesina 184 is scheduled to be handed over, where an exhibition space, a jazz club, a food gallery, and a restaurant with outdoor dehors overlooking a new 10,000 m2 park will be located
Milan, 11 June 2025 – RealStep SGR, a real estate development company specialising in the sustainable urban regeneration of former industrial sites, has finalised a major financial reorganisation transaction on behalf of one of the SICAF’s sub-funds – the object of which is the redevelopment of the real estate complexes of Sub-fund 2 located at number 184 (under construction) and 204 (former Beko Europe headquarters) – through the signing of a financial reorganisation of the investment.
In detail, the agreement envisages the entry of Banca Finint as co-financer through a EUR 15 million line with a 30-year term and subsidised economic conditions.
At the same time, Unicredit rescheduled the original loan to approximately EUR 50 million.
The Integrated Urban Plans Fund
Banca Finint has been selected by the European Investment Bank (EIB) as the agent of the consortium formed by Finint Investments and Sinloc (Sistema Iniziative Locali S.p.A.) for the implementation of the Integrated Urban Plans Thematic Fund (the “Fund”) which aims to allocate and manage PNRR resources to strengthen the Integrated Urban Plans of Italy’s 14 Metropolitan Cities. The aim is to support sustainable urban regeneration projects as a means of promoting social inclusion and accelerating urban regeneration interventions, also contributing to the objectives of the green and digital transition envisaged by the PNRR and more generally to the economic revitalisation of the territories.
The redevelopment operation
In particular, Banca Finint’s loan is for the redevelopment of number 184 Via Varesina, which will house an exhibition space, a jazz club, a food gallery, a restaurant with outdoor dehors overlooking a new 10,000 square metre park, and office and showroom space.
The redevelopment operation is being conducted by RealStep with a focus on sustainability, innovation, and the promotion of the sociality of the Certosa District: its restaurants, music clubs, exhibitions, and city and cultural events have in fact brought more than 30,000 visitors to the district in the last 12 months. The RealStep team that structured the transaction was led by executive director and advisor Vincenzo Giannico and senior associate Michele Scacciati.
The declarations
“The agreement signed confirms theattention of the main Italian financial institutions towards the urban and social regeneration project of the Certosa District that we are leading and which is giving back to the city a lively district with a great attention to the balance between new buildings, green and common areas, the existing social fabric, innovation, culture and sustainability. Work is proceeding apace and we expect to complete the last part of the 100,000 m2 (plus 16,000 of green space) in the next 24 months” said Stefano Sirolli, CEO and Co-Founder of Realstep SGR ‘ With the Certosa District, we have the ambition to improve the everyday life of the people who live in the neighbourhood,’ concludes Sirolli.
Mauro Sbroggiò, Chief Executive Officer of Finint Investments and Co-chief Financial Officer of the Banca Finint Group, commented: “Banca Finint and Finint Investments, backed by the experience and collaboration of Sinloc SpA, are proud to be active promoters of this initiative , which pursues objectives of social inclusion and environmental sustainability, perfectly in line with those of the Integrated Urban Plans Thematic Fund. The Fund ‘s entry has contributed to the development of an underused industrial area that allows for the creation of a multifunctional and energy-efficient building without further land consumption.
Concludes Antonio Rigon, CEO of Sinloc: “The opportunity to finance this project – thanks also to our experience as a ‘ development engine ‘ for territories – strengthens the strategic role of the Urban Plan Fund in supporting social infrastructures, helping to activate a leverage effect of investments in the territory. In particular, the project aims to transform a disused industrial area into a multifunctional district in which the new office destination is associated, with the involvement of the community, with the offer of collateral and complementary activities.”
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Joint press release RealStep SGR, Finint Group and Sinloc
