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Partners Group Expands Residential Portfolio in Milan with EUR 260 Million Acquisition
Partners Group, a major entity in the global private markets industry, has announced its acquisition of a portfolio of prime residential properties in Milan. This acquisition, valued at over EUR 260 million, significantly boosts the firm's residential portfolio in Italy to a combined gross asset value of approximately EUR 800 million. The newly acquired portfolio consists of six assets totaling 590 units and includes modern mixed-use towers and historic neoclassical buildings in Milan's center.
Driven by Milan's emergence as a regional business hub and a limited new housing supply, the city's residential sector is seeing strong demand for prime properties. Partners Group plans to implement a transformational value creation strategy, upgrading the portfolio to a Class A product by renovating units and enhancing amenities. The assets will be integrated into Partners Group's property management platform in Milan, OnPlace, launched in 2022.
This strategic move aligns with Partners Group's broader investment approach in the European residential sector, following joint ventures in Germany and Spain. The acquisition reflects the firm's thematic investment strategy, focusing on urbanization trends and limited central assets supply.
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