Dils has been selected by Invesco Real Estate to manage the Build to Rent (BTR) properties within the SeiMilano residential development, liaising with Yard Reaas for the building and facility management activities.
SeiMilano is an urban regeneration project covering over 300,000m2 next to the Bisceglie metro station in the west quadrant of Milan. This newly built multifunctional district, comprising offices, commercial spaces, and residences, is surrounded by a 16-hectare public park. Designed by MCA – Mario Cucinella Architects and developed by Borio Mangiarotti, SeiMilano is transforming this area of Milan into a mixed-use district, combining residential, commercial, and office spaces. The project will deliver approximately 1,200 housing units, including both free-market and affordable housing, alongside 30,000m2 of office space and around 10,000m2 of retail functions. The construction of the BTR portion, with 656 units (across 11 buildings) to be managed as rental accommodation, is well underway with completion expected in the first half of 2025.
Dils has secured the appointment to lease and manage the BTR scheme in SeiMilano, following agreements for two other developments by CBRE Investment Management: the 170-unit Ca' Village in Cascina Merlata, Milan, and a 250-unit project on Via Niccodemi in Rome, currently under construction. Yard Reaas handles building and facility management for these projects.
With nearly 1,100 units managed, Dils is the leading service provider for this asset class in Italy, trusted by two global institutional investors. Services include BTR advisory, branding, marketing & letting, community management, and facility management with Yard Reaas. The team has been successfully managing Ca' Village, which is now in its final stage of lease-up, with over 300 residents already moved in.
The Build to Rent (BTR) model, popular internationally, focuses on constructing modern apartments for medium to long-term rentals. These developments offer various amenities like wellness areas, lounges, and co-working spaces, all managed by a professional team handling lettings, technical tasks, and community events. BTR emphasises enhancing the resident experience, often through dedicated apps that connect tenants with on-site staff, facilitate bookings, and foster community engagement.
Dario Favoino, Head of BTR at Dils, stated: “This appointment confirms the trust that institutional investors have placed in a new operational model on the Italian market, where we’ve imported best practices and expertise from more established countries. SeiMilano is a key project for the development of this asset class and represents a significant opportunity for the entire industry. At Dils we’ve been working hard to build a proprietary platform that’s already fully operational thanks to the experience gained at Ca' Village, and which we are now expanding further to manage SeiMilano and the future projects in our pipeline.”
Image source - Dils.
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