Milan, 27 November 2024 - The YARD REAAS Group, leader in Italy in real estate consultancy and integrated management of real estate services, has been selected for the property and building management of the Build-To-Rent (BTR) properties of SeiMilano, a residential complex owned by Invesco Real Estate. The assignment will be managed in coordination with Dils, responsible for management and commercialisation, in order to ensure the unified supervision of the entire process.

SeiMilano is an urban regeneration project, designed by MCA - Mario Cucinella Architects and realised by Borio Mangiarotti, covering an area of more than 300,000 sqm near the Bisceglie metro station in Lombardy’s capital city: a new multifunctional district with offices, commercial spaces and residences set in a park measuring more than 16 hectares.

The part set aside for Build-To-Rent use will be divided into 11 buildings for a total of 656 furnished apartments for medium to long- term rental, as well as amenities and services reserved for residents (concierge, gym, coworking spaces, residents' lounges, etc.). The construction site is at an advanced stage and the end of works is scheduled for the first half of 2025.

YARD REAAS will be responsible for the management of administrative and technical aspects of tenant activities and services, according to an innovative model already tested at the BTR site of Ca' Village in Cascina Merlata, Milan, based on a cross-cutting specialised team both on- and off-site.

Following the assignment for SeiMilano by Invesco Real Estate, the total number of BTR residential units managed by YARD REAAS has risen to around 1,100, making it the leading provider of property & building management services for this emerging asset class. The mandate follows the one already in place for two other complexes held by CBRE Investment Management: the aforementioned Ca' Village project in Cascina Merlata, Milan, with 170 residential units, one of the first examples of this innovative model in the Italian market launched in September 2023, and the development of Via Niccodemi in Rome with 250 units, currently under construction. For both projects, commercialisation was entrusted to Dils.

“Our long, consolidated track record in property & building management, with over 14 billion euros in assets under management”, noted Paolo Orlando, Head of YARD REAAS’ Property Division, “has allowed us to refine our BTR services by drawing on our experience in other asset classes: from the concierge experimented in the most recent management initiatives and inspired by the hotel sector, to the role of general manager in shopping centers, to the concept of community management borrowed from social housing initiatives, here applied in other ways and with other objectives.
The increased complexity of the BTR lies in two aspects. First, the need to coordinate property & building management under a single direction typical of the residential sector, integrating them with a personalised, agile and digital management of relations with residents, shared spaces and the numerous services put in place for tenants.
Second, the need to provide multidisciplinary support to investors even in the phases prior to management, such as the analysis of the operation (technical and ESG due diligence) as well as the monitoring of the development (tender management, project management of works and fittings/furnishings), not to mention the onboarding phase”.

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