Bpm bank and the real estate investment company Merope Asset Management have completed a loan for over 60 million euro for the development of the redevelopment operations of two properties located in Milanrespectively in Corso Venezia 56 and in Via Manzoni 9.
In particular, the lender has supported Merope through the release of short-medium term lines of credit aimed at completing the purchase and repositioning of the two buildings.
Meanwhile, Merope has just launched asterope: this is a new multi-asset strategy investment vehicle focused on the repositioning of trophy assets in Milan, including the two in Corso Venezia and Via Manzoni. Asterope, intended for family offices and private investors, was fully subscribed in less than three weeks and has an overall investment target of 110 million euro.
“We are very happy to start this new adventure with the support of Banco Bpm – he commented Peter Cross, founder and CEO of Merope Asset Management – We have a very solid group of investors and we are supported by one of the main Italian banking groups. I can only thank Banco BPM and its team who, in a moment of great complexity, have shown their willingness to support our project".
Luca Manzoni, Corporate Manager of Banco Bpm, underlined instead that the institute “continues to support quality investments in Milanese Real Estate. We are happy to support Merope - he added - a young company with investors of great standing, in these two important development operations. Banco Bpm, despite a difficult situation for our country due to the ongoing health emergency, remains focused on supporting Italian companies".
Merope Asset Management was assisted by Dentons as legal advisor, while the associated studio Giancaspero & Carlucci handled the corporate aspects.
