Dentons assisted M&G Real Estate in the acquisition, through a € 63 million forward funding scheme, of a student housing project in central Turin. Following the redevelopment of a former industrial site, the building will offer 582 beds on five floors and, in line with M&G’s focus on environmental sustainability in real estate, will be certified ‘LEED Gold’. The asset is located in the lively Cenisia district, within walking distance from the Polytechnic University of Turin and Porta Susa railway station. The project is being delivered by Stonehill Group, an international developer specializing in PBSA (Purpose-Built Student Accommodation).
Dentons’ multi-jurisdictional team comprised Milan-based partner Carlo Merisio and associate Elena Cossutta for real estate and transactional aspects, senior counsel Elena Macchi for town planning and administrative aspects. Partner Martine Gerber-Lemaire, senior counsel Christel Dumont and counsel Olivier Lesage advised on Luxembourg law aspects.
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