As part of the joint venture established in 2023, Harrison Street acquired a majority stake in the share capital of SICAF ‘Tiberius Italian JV 1’, which owns a property complex in Viale Monza in Milan. The transaction follows on from the first acquisition in December 2023, which was followed by the conversion of the original limited liability company (Project Viale Monza) into SICAF and the completion of the renovation of the property complex located in Viale Monza, which now has approximately 260 residential units.
CMS supported Artisa with a team composed of partner Massimo Trentino, who handled the corporate aspects of the transaction, and partner Marco Casasole for the real estate aspects. The UK team at CMS, coordinated by partner Justin Coaley, also included associate Molly Greenslade.
Harrison Street was assisted by the international law firm DLA Piper with multidisciplinary and multi-jurisdictional teams involving Italy and the UK. The Italian team, coordinated by partner Olaf Schmidt, provided assistance in all phases of the transaction, from the conversion of the vehicle into a SICAF, overseen by partner Agostino Papa and solicitor Caterina Anselmi, to the construction aspects coordinated by partner Valentina Marengo and solicitor Chiara Sciaraffa, from the corporate aspects handled by solicitor Amedeo Barbato to the real estate aspects managed by solicitor Lucia Verdacchi for civil law matters and by partner Carmen Chierchia and solicitor Filippo Colonna for administrative matters.
DLA Piper was also involved in the negotiation and signing of a new loan agreement between SICAF and LaSalle, the latter aspects being handled by partner Giampiero Priori and solicitor Valerio Cellentani. DLA Piper's UK team was coordinated by partner Sam Whittaker and comprised solicitor Timothy Harding.
EY Studio Legale Tributario assisted Harrison Street with all tax aspects related to the investment structure, due diligence and review of contractual documents with a team led by partner Aurelio Pensabene and composed of managers Marco Rosso and Giorgio Marchesi and senior Silvia Matranga.
Biscozzi Nobili & Partners advised Artisa on the tax aspects related to the conversion of the original limited liability company (Project Viale Monza) into a SICAF and acted as tax advisor in the various stages of the transaction with a team composed of Simona Zangrandi and Emilio Gnech.
