Merope Asset Management, an Italian real estate investment and development company, concluded the purchase – through Taigete – from Cir SpA – Compagnie industriali riunite of a “trophy asset” of approx. 4,500 square metres, currently used for retail, business and residential purpose, located in Brera district in Milan.

The preliminary agreement was executed in late December 2022, following the award of a competitive tender by Merope, which will promote the redevelopment of the building complex in line with its strategy of relocating valuable real estate assets.

The acquisition, with a countervalue of EUR 38 million, and the investment plan of approx. EUR 20 million, has as financial partner Banca Monte dei Paschi di Siena, which granted a credit facility of approx. EUR 36 million.

PedersoliGattai, with Enrico Morolli (senior associate), advised Merope for legal aspects relating to the financing transaction.