19 November Finanz Nachrichten
Fondo Monterosa, an investment fund managed by Investire SGR S.p.A., whose investor is a fund belonging to a controlled affiliate of Starwood Capital Group, a leading global private investment firm, announced today the acquisition of an office building in the heart of Milan’s Central Business District. Terms of the transaction were not disclosed.
This prime office building will be completely refurbished once vacated by the current tenant, an Italian energy company.
“We are excited to add an investment to our portfolio that allows us to capitalize on the strong dynamics of the Milan office market,” said Francesco Zanella, Vice President at Starwood Capital. “Thanks to Investire’s expert asset management, we plan on converting this office building into one of the most modern office buildings in Milan’s CBD.”
“It is a real pleasure for us to start this partnership with an important player as Starwood,” added Alessandro Polenta, Director in InvestiRe. “This investment offers us the opportunity to realize an important redevelopment project in the centre of Milan.”
Starwood Capital was advised by Knight Frank Italia.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil gas. The Firm and its affiliates maintain 12 offices in five countries around the world, and currently have approximately 4,000 employees. Since its inception in 1991, Starwood Capital Group has raised $45 billion of equity capital, and currently has in excess of $60 billion of assets under management. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 27 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.
About Investire SGR S.p.A.
InvestiRE SGR is a leading independent asset management company specialised in actively managing real-estate portfolios in different market sectors. With a portfolio of over €7 billion located all over Italy, InvestiRE SGR acts today as a key partner especially for institutional investors.
Thanks to its proven track record in managing traditional portfolios as well as development projects, with a special consideration in urban regeneration projects, InvestiRE SGR is able to operate in the following market segments: Refurbishment and repositioning of buildings and urban upgrading; Turnaround of portfolios as a result of an active valorisation process in different markets; Creating value in long-term, active management; Managing integrated projects with value added services even in non-traditional market segments (e.g. social housing, student accommodation, nursing homes).
Source: Finanz Nachrichten
Translator: Cristina Ambrosi