The Farini and San Cristoforo railway stations in Milan are officially owned by Redeus Fund, the closed-end alternative real estate investment fund, with Unicredit as the sole investor, managed by Prelios Sgr. This was announced in a note from the FS group.
The sale of the two railway yards by Fs Sistemi Urbani (lead company of the urban hub of the Fs group) has in fact been completed. The amount of the sale is 489,5 million euros. With the closing of the operation, the urban regeneration program of the seven disused railway yards in the Lombardy capital continues, started in 2017 with the signing of the "Scali Milano" Program Agreement by the FS Italiane Group, the Municipality of Milan and the Lombardy Region.
The agreement was born with the aim of redeveloping the former railway yards Farini, Porta Romana, Porta Genova, Greco-Breda, Lambrate, Rogoredo and San Cristoforo with a view to urban re-stitching and allocating green spaces for aggregation for citizens to more than half of their total surface area.
In December 2023, the consortium composed of Unicredit, Prelios and Hines won the tender announced for the purchase of the two airports, beating Coima's offer. The newly established Redeus fund sees Unicredit as the sole investor and guarantor of the seller, through the issuing of its own bank guarantee. Development activities are the responsibility of Hines, according to urbanization plans that will be agreed with the Municipality of Milan.
At Scalo Farini, within about 7 years, the new headquarters of Unicredit will be developed, which will therefore abandon the tower in Piazza Aulenti. But not only. In addition to the linear park, which will occupy approximately 65% of the space, the headquarters of the Brera Academy will be built (with a campus) and a neighborhood of 1.800 apartments in subsidized housing, some of which the Municipality of Milan will have a right of option. Finally, schools and accommodation facilities will also find space.
Scalo San Cristoforo will mainly host a mix of greenery and water, reinforcing the environmental system of the South Park, and will host a large filter pool suitable for swimming in some points at the center of the linear naturalistic oasis. The entire green space (or rather, green-blue) in the south-west of Milan will be partly usable by people and partly dedicated to "non-humans", and the tank will purify the water recovered from the system of fountains characteristic of the Agricultural Park South.
Mediobanca acted as exclusive financial advisor to FS Urban Systems, with a team of Dino Gioseffi, Dante Filippello e Liliya Spasova.
