PUI – Financing operation for the renovation of a building in Florence to create a student housing
Group Company
Benificiary
Start Date
End Date
Project Status
Value
38 Mln/€
Instrument
Fund Management
Sector
Urban regeneration
Segment
Investors and Financial institutions
Technical assistance in structuring the financing transaction, through the Integrated Urban Plans Fund, aimed at renovating a former abandoned public building in Florence to create a student residence with over 470 beds and a guesthouse for the families of patients at the nearby Careggi and Meyer hospitals, with more than 30 beds. The project includes an analysis of the counterparty, a technical review of the financing terms, and an analysis of the economic and financial viability of the transaction. Additionally, sensitivity and scenario analyses are being developed.
Features
Given the nature of the beneficiary – a student housing fund with CDP Real Asset as the majority shareholder – the transaction was structured as a 17-year balloon loan, with 85% of the principal to be repaid upon the fund’s closure. Thanks to the project’s strong social impact and the focus on efficient regeneration, the ESG discount was applied from the outset.
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