Hines and Blue Noble invest in Milan, Italy

Hines, in a joint venture with Blue Noble, has invested in the prestigious Via Borgospesso 15 in Milan with the aim of creating more than 70 serviced apartments.

Worth more than €70 million ($85 million), the investment was completed via the recently established Smart Stay fund, managed by Antirion SGR. This is the fourth strategic investment Blue Noble has made in Italy with Hines.

The investment is confirmation of Hines’ living-sector-focused strategy to reposition an asset of high historical value that is located in one of the city’s most iconic districts, attracting local and international visitors. It looks ahead to the growing “home away from home” trend, seeking to meet future demand from tourists and professionals visiting Milan in search of welcoming accommodation without giving up the benefits of a modern and efficient hospitality venue. This new living model aims to provide a concrete solution to the current limited availability of high-quality sho