To Investire Sgr and Partners Group two assets in Milan for 70 million

Investire Sgr (Banca Finnat Group) and Partners Group have acquired two buildings in the Navigli district of Milan, totalling approximately 8,500 sqm. The transaction involves a total investment of over Euro 70 million and is the first transaction under the new Italian PRS III Fund, further strengthening the joint venture between the two companies in the real estate sector and consolidating their presence in the Italia residential market. The transaction also received a loan of approximately Euro 48.2 million from Bcc Milano.

The initiative aims not only to rehabilitate the two derelict buildings, but to transform them into modern residences through an urban regeneration project that will also enhance the surrounding area.

The properties will be integrated into the perimeter of the Italian PRS platforms with the aim of managing a portfolio in Italia of two billion euro when fully operational: the Italian PRS I platform and the Italian PRS II platform, with assets under management of approximately EUR 600 million and a total of 90,000 square metres, focus on the development of projects in the living sector, with a focus on leasing with value-added services and some property fractioning.

The property portfolio will also become part of the 'On Place' residential management platform, which integrates physical and digital services for managing rental residences in the Italia market. The platform provides tenants with access to additional services, including concierge, furnishing packages, on-site maintenance and brand partnerships, which can be managed 24 hours a day via app. The first cities where the platform is operational, with over 450 rental flats, are Milan, Rome and Turin.

"The acquisition of this real estate complex," said Marco Denari, head of real estate Southern Europe, Private Real Estate Europe at Partners Group, "is a great opportunity for urban regeneration in an important area of the centre of Milan, the Darsena. In addition, it marks the first investment of the Italian PRS III Fund, a strategy in partnership with Investire SGR that has reached its third vintage, today with approximately EUR 600 million under management and an investment target of EUR 750 million: a further step towards the two billion target by 2028".