The Portfolio consists of six standing assets with 590 units that have a Net Leasable Area of more than 50,500 sqm. The assets include modern as well as value-add mixed-use towers and iconic neoclassical buildings that are largely located in the historic center of Milan. The transaction follows an earlier purchase of a residential property portfolio in the city in 2021. Following completion of this latest acquisition, Partners Group’s total residential property portfolio in Italy will have a combined stabilized GAV of around EUR 800 million and more than 1,300 units. Through its thematic sourcing approach, Partners Group identified the residential sector in Milan as experiencing elevated demand for prime properties. This is driven by the growing strength of the city as a regional business center, an influx of high-net-worth individuals that are attracted by Italy’s current tax regime, and the limited new housing supply coming to market.

As part of its value creation plan, Partners Group aims to transform the Portfolio into a Class A product, with key initiatives including renovating units and investing in amenities. Partners Group will also add the Portfolio to OnPlace, a property management platform in Milan that the firm launched in 2022 in partnership with Investire SGR. OnPlace acts as a platform for renting properties in the city and provides existing tenants with access to add-on services, including concierge, furniture packages, on-site maintenance, and brand partnerships.

You can now read the full press release at the link below