Fondo Immobiliare Lombardia Comparto Uno (FIL1) and Fondo Immobiliare Lombardia Comparto Due (FIL2), the City Regeneration Fund (Re-City) are the means to boost the planning and involvement of stakeholders in affordable housing, student housing and urban regeneration projects in social impact in Milan and Lombardy.

Find our funds in detail below.



The Fondo Immobiliare Lombardia Comparto Uno (FIL1) is the first closed-end real estate investment fund reserved for qualified investors and intended for affordable housing in Lombardy. Promoted by the Cariplo Foundation and the Lombardy Region, FIL1 counts among its shareholders important institutions such as the Fondo Investimenti per l'Abitare (FIA) managed by CDP Immobiliare Sgr and subscribed by Cassa Depositi e Prestiti for 1 billion euros.

Find out more about FIA

FIL1's objective is to optimise the use and integration of public and private resources acquired over time in order to address the growing need for housing, through the creation of new opportunities in the Lombardy region. Other investors in the fund include Banco BPM, Cassa Italiana di previdenza ed assistenza dei Geometri, Generali Italia, Intesa Sanpaolo and Unicredit. The fund collected subscriptions for a total of EUR 560 million.


The Fund has 20 active initiatives (at Dec. 2021).



The Fondo Immobiliare di Lombardia - Comparto Due (FIL2) has been operational since 16th July 2012 and is dedicated to student housing. The Fund counts among its shareholders institutional entities such as FIA, the Lombardy Region and Fondazione Cariplo, for total subscribed capital of 30 million euros.


Via Pompeo Leoni - Milano
Composta da 79 unità residenziali (compresi 135 posti letto destinati a residenza universitaria) ad oggi completamente a reddito.
Via Cosenz - Milano
Composta da 55 unità residenziali (compresi 120 posti letto destinati a residenza universitaria) oltre due locali commerciali e posti auto.
BSC Bicocca - Milano
Composta da 112 unità residenziali (compresi 280 posti letto destinati a residenza universitaria) oltre a 72 posti auto.

City Regeneration Fund (RE-City)

Re-City is a real estate fund dedicated to the experimentation of new models of affordable living through the availability and accessibility of residences, for rent and for sale, and affordable services. The fund focuses, in particular, on the promotion of adequate living conditions for the autonomous elderly, young couples and young singles with parenting plans.

The fund intends to transform distressed assets, degraded areas with an impact on both the environmental matrix and the surrounding social fabric, in order to restore them to their communities and generate new opportunities for local sustainable development and improvement in urban quality. In these urban regeneration initiatives, a central role is reserved for the establishment and the long-term management of a social and solidarity economic ecosystem on a local scale.

Re-City is a "sustainable investment" according to the European Regulation 2019/2088 on Sustainability Reporting in the Financial Services Sector (SFDR) and makes a substantial contribution to climate change mitigation according to the European Taxonomy for Sustainable Activities (European Regulation 2020/852).