Hines and Accor unveil plans for a hotel development at MilanoSesto
Hines is also a strategic advisor and development manager of the entire MilanoSesto 13-year project.
Hines, the global real estate firm, and Accor, a world leader in the hospitality sector, announce plans for a hotel at MilanoSesto via an agreement with the “Unione 0” real estate fund.
The “Unione 0” real estate fund, managed by Prelios SGR and ultimately invested in by Hines and Cale Street, has entered into a binding agreement with Accor for a hotel to be developed on the Unione 0 private lot at MilanoSesto, on a 25-year lease, via the hotel group's partner, Amapa.
Hines is also a strategic advisor and development manager of the entire MilanoSesto 13-year project. Prelios, meanwhile, acts as manager of the “Unione 0” real estate fund and asset and project manager of the overall initiative.
Currently, construction continues on the Unione 0 private lot section at MilanoSesto, which spans 250,000 square meters, bordering the former Falck area railway station. Excavation work for the hotel will start in August 2022 with construction set to begin on the buildings by the end of 2022.
The buildings include the hotel (301 rooms), office space covering c. 48,000 square meters, student accommodation catering for approximately 700 people, affordable housing units (285 apartments) and free-market residential units (480 apartments).
The area will also feature an initial 13-hectare section of the 45-hectare park, designed by international architecture firm LAND.