Mind: the Tree of Life
Lendlease e Canada Pension Plan Investment Board focus on Milan. The group of the real estate and the Canadian fund have signed an agreement for the co-investment in a dedicated Italian real estate alternative investment fund intended for the development of the phase one of the area West Gate of the Milano Innovation District (Mind), which rises on the site previously occupied by Expo 2015.
Lendlease’s private development rights cover approximately half of the area equal to approximately 480,000 square meters, for a development value estimated at approximately 2.5 billion. Mind will host the new campus of the State University, the Galeazzi Ircss hospital and the Human Technopole, the new Italian research institute for life sciences, as well as other research centers.
According to the agreements, Cpp Investments and Lendlease will invest jointly and equally, approximately 400 million in the development fund of approximately 150,000 square meters out of a total of 500,000 square meters to which Lendlease holds the development rights.