Established in 2021,
as a real estate Italian Alternative Investment Fund reserved for professional investors, Lendlease Renaissance I fund is co-invested by Lendlease and one of its institutional partners.
A “develop to core” investment strategy long term ownership of diverse assets, including:
- Premium grade office buildings
- Apartments for rent
- Hotel
- Retail units will act as a placemaking asset, supporting users of both the private and public developments
- Laboratories
The Fund, which has a duration of 50 years, envisages for the first 3/4 year the conclusion of the design activities currently underway, the construction and the completion of the buildings and the relative income through the identification of tenants and subsequently the holding of the properties leased, aiming to maintain the properties in the portfolio over the “medium/long” term, preserving their value and maximizing the return for the investor through the preservation of the rental value and the best valuation at the time of disposal.
Strong sustainability targets at building level and at district level.
Milan Innovation District
Renaissance I area is located at the west end of the MIND leveraging the existing transport hub (high speed regional rail and metro). Conceived as a living lab for urban regeneration, MIND is the largest Public Private partnership in Real Estate in Italy which incorporates the entire Life science value chain from ventures, large corporations, start-ups, and 3 «anchors» with public destinations: the Galeazzi Hospital, the international excellence research centre for life science and genomics Human Technopole and the University of Milan that will transfer some scientific department in 2025, for a total of 400,000 smq. Additional 480,000 sqm of mixed-use are planned: office, residential, hospitality, retail, entertainment, industrial and manufacturing.
A totally carbon neutral development, it represents a lighthouse for decarbonization technologies in the fields of mobility, construction and energy use.
End value of approximately 850 million euro.
Development of first phase of a wider project that will be entirely concluded over the next 10 years.
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Responsible Property Investment
Lendlease Renaissance I fund focuses on real estates for commercial, retail and office use located in Italy, in the development site known as MIND (Milan Innovation District). This fund seeks to deliver its target return through the repositioning of quality, environmentally, and socially sustainable Italian real estate assets and infrastructures.
The approach to sustainability is guided by the Lendlease’s Responsible Property Investment Policy and Sustainability Framework.
Lendlease Renaissance I participates in the social innovation project called Programma 2121 (www.programma2121.org) led by the Italian department of Justice, of which Lendlease is a strategic partner.
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GRESB
- GRESB - 5 stars
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Green Building Certification
- LEED Cities and Communities – GOLD
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Environmental, Social and Governance
The assets and district will be certified to Green Building Certifications that independently rate and verify the sustainability and wellbeing credentials of the project. Sustainable design solutions that will be implemented include:
- EU Taxonomy compliance
- Climate resilient design to mitigate climate risks Carbon budget for assets and infrastructures
- Use of rainwater for irrigation
- Inclusive urban community
100% renewable energy
- Disclosure Articles
