REAM SGR S.p.A., on behalf of the GERAS 2 Fund, has acquired the ‘Adriano Community Center’ from Proges Cooperativa Sociale of Parma, a mixed-use real estate complex located in via Adriano, 97 in Milan. At the same time as the deed was signed, the Fund entered into a long-term lease agreement, for the entire complex, with the same Cooperative.

The asset, which was built between 2018 and 2020 and has been open to the public since the second half of 2020, consists of a 120-bed assisted living residence for the elderly (RSA) and a 20-bed assisted living residence for people with disabilities (RSD), both managed by Proges; an outpatient clinic; 17 sheltered flats for self-sufficient or partially self-sufficient elderly people; 22 social housing flats; office spaces; an auditorium/community centre and a cafeteria; all of which cover a commercial area of approximately 15,800 square metres.

In the transaction, REAM SGR S.p.A. was assisted by YARD REAAS as technical advisor for the technical Due Diligence acquisition, ESG Due Diligence and climate risk assessment.