Hines fund acquires portfolio in Milan

Hines has finalized the investment into a residential real estate portfolio in Milan on behalf of the Hines European Value Fund 2 (HEVF 2), marking the fund’s first closing in Italy.

This investment represents an opportunity for HEVF 2 to create market-leading build-to-rent (BTR) with superior amenity provision and placemaking. Milan’s residential sector is expected to benefit from strong market fundamentals of rising demand, driven by accelerated trends in the demographic shift toward renting and creating world class assets for long term institutional investors.

The portfolio, spanning 40,000 square meters (430,556 square feet), is located in the southeast quadrant of Milan in Via Trivulzio 6/8, Via Roncaglia 8 and Via Villoresi 11/13/15. In keeping with the growing demographic expansion of the city, in which some 300,000 new inhabitants are expected by 2035, Hines expects to launch approximately 300 residential units onto the market by 2023 to meet growing BTR p