Bird & Bird has been appointed by Europa Risorse SGR (“SGR”), the Italian asset management firm specialising in closed end real estate funds, as the preferred legal adviser for SGR’s project which aims to relieve the housing emergency resulting from the L’Aquila Earthquake in the Abruzzo region , less than 50 miles east of Rome, in April this year.
Through a specialised real estate fund, SGR will acquire and manage approximately 500 apartments, which will be ‘rented’ (rental fees to be paid for by the Government) to some of the 66,000 made homeless by the tragedy. The team, led by Milan partner Raimondo Maggiore, will advise SGR Pro Bono on all legal issues regarding the project with an additional discretionary fee for the team's work to be donated to a non profit organisation operating in the Abruzzo region and selected by Bird & Bird.
Raimondo Maggiore, partner in Bird & Bird’s Banking & Finance group, commented: “We are proud to have been appointed by SGR on this truly important project. The L'Aquila earthquake, one of the worst Italy has experienced in over 25 years, has caused so much misery to tens of thousands of people. We expect this to be a major project and look forward to working with SGR, the National Department for Civil Protection, the Association of building enterprises as well as several financial institutions.”
Bird & Bird acts as a pro bono advisor to many organisations such as Oxfam International, The Red Cross and Keep A Child Alive.
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Notes to Editors
About Bird & Bird
Bird & Bird is an international legal practice comprising Bird & Bird LLP and its affiliated and associated businesses, and has offices in Beijing, Bratislava, Brussels, Budapest, Düsseldorf, Frankfurt, The Hague, Helsinki, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Prague, Rome, Shanghai, Singapore, Stockholm and Warsaw.
For more information on Bird & Bird please go to www.twobirds.com