Italy
Portugal
More than 1,000 BTR units secured between Milan and Rome
Dils has been selected by Invesco, a global independent investment management firm, to manage the Build to Rent (BTR) properties within the SeiMilano residential development, liaising with Yard Reaas for the building and facility management activities.
SeiMilano is an urban regeneration project covering over 300,000 square meters next to the Bisceglie metro station in the west quadrant of Milan. This newly built multifunctional district comprising offices, commercial spaces, and residences, is surrounded by a 16-hectare public park. Designed by MCA – Mario Cucinella Architects and developed by Borio Mangiarotti, SeiMilano is transforming this area of Milan into a mixed-use district, combining residential, commercial, and office spaces. The project will deliver approximately 1,200 housing units, including both free-market and affordable housing, alongside 30,000 square meters of office space and around 10,000 square meters of retail functions. The construction of the BTR portion, with 656 units (across 11 buildings) to be managed as rental accommodation, is well underway with completion expected in the first half of 2025.
The appointment to lease and manage the BTR scheme in SeiMilano follows the agreements already signed for two other developments held by CBRE Investment Management: the 170-unit Ca’ Village project in Cascina Merlata, Milan, and the development on Via Niccodemi in Rome, comprising 250 units currently under construction. Yard Reaas covers the building and facility management activities for these two schemes as well.
With nearly 1,100 units under management, Dils has grown to become the leading service provider for this emerging asset class on the Italian market, winning the trust of two global institutional investors. The services provided include BTR advisory, branding, marketing & letting, community management and, liaising with Yard Reaas, building and facility management. Over the last 12 months, the team has already been operating Ca’ Village, currently in the final stage of lease-up and with over 300 residents who’ve already moved in.
The Build to Rent model, widely adopted internationally, involves the construction of modern apartments designed and operated to provide medium to long-term rental accommodation. These developments typically provide residents with a wide range of services and amenities, such as wellness areas, lounges, multifunctional spaces, co-working facilities and so on. All is usually managed by a professional operator in charge of lettings, technical and administrative activities as well as community & events management. The BTR market revolves around a new living model focused on improving the residents’ experience, often with the help of dedicated apps allowing tenants to engage with the on-site team, book spaces, access events and personalized services, and interact with the wider community of residents.
Since 2021, Dils has strategically decided to enter this market deploying substantial investments in talents and technology and creating a cutting-edge operational platform under the leadership of Dario Favoino, a seasoned professional with over a decade of international BTR experience.
Dario Favoino, Head of BTR at Dils, stated: “This appointment confirms the trust that institutional investors have placed in a new operational model on the Italian market, where we’ve imported best practices and expertise from more established countries. SeiMilano is a key project for the development of this asset class and represents a significant opportunity for the entire industry. At Dils we’ve been working hard to build a proprietary platform that’s already fully operational thanks to the experience gained at Ca’ Village, and which we are now expanding further to manage SeiMilano and the future projects in our pipeline.”
