Arrow Global acquires Milan developer to strengthen Italian real estate platform

Arrow Global has acquired Borio Mangiarotti, the Milan‑based real estate development and management business, in a move that significantly expands its operating capabilities in Italy. 

Zach Lewy, Arrow Global

The acquisition adds more than a century of development expertise to Arrow’s vertically integrated private credit and real estate platform and reinforces its strategy of investing in local operating infrastructure across Europe.

The deal consolidates Arrow’s existing investments and operations in the Milan area and coincides with a new investment in a €450 million residential portfolio in Leipzig and Dresden.

Founded in 1920, Borio Mangiarotti has delivered more than 500 buildings across Lombardy and has played a major role in shaping Milan’s urban landscape. The business brings deep expertise in residential development, urban regeneration, project management and construction, alongside strong institutional relationships.

Zach Lewy, Founder, CEO and Chief Investment Officer at Arrow Global, said: “Arrow’s investment model is built on combining discretionary capital with high‑quality local operating platforms. Borio Mangiarotti adds deep origination, project management and development capability in Milan, one of Europe’s strongest residential markets. This acquisition strengthens our differentiated local operating model in Italy and enhances our ability to originate and execute attractive asset‑backed opportunities at scale.”

Edoardo de Albertis, CEO of Borio Mangiarotti, added: “Joining Arrow marks an important step for Borio Mangiarotti. Combining our local market knowledge and execution expertise with Arrow’s capital, asset management capabilities and European reach creates a strong foundation for future growth and the delivery of high‑quality outcomes for institutional investors and partners.”