Partners Group, acting on behalf of its clients, has agreed to acquire a portfolio of prime residential properties in Milan, from Fondo Pensione Cariplo. The portfolio has a gross asset value of more than €260 million ($286 million), including a significant CAPEX program.
The portfolio consists of six standing assets with 590 units that have a net leasable area of more than 50,500 square meters (543,578 square feet). The assets include modern as well as value-add mixed-use towers and neoclassical buildings largely located in the historic center of Milan.
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 also will 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 e
