BPPEH Acquires Milan Office Portfolio
BPPEH has acquired a portfolio of two high-quality, well-located office properties in Milan, Italy for a gross purchase price of €137 million.
The portfolio includes Via Principe Amedeo 5, a 7k square meter, LEED Gold certified, trophy office building in Milan’s CBD, as well as Via Scarsellini 14, a well-located, 18k square meter, BREEAM certified, Grade-A office complex. The portfolio is currently 99% leased on a 6-year average lease term (to break) to a blue-chip tenant roster.
Blackstone Property Partners Europe Holdings S.à r.l. (“BPPEH”) invests in high-quality, substantially stabilised real estate assets across Europe. Investments are concentrated in the logistics, residential and office sectors, with a focus on major European markets and key gateway cities. BPPEH is 100% owned by Blackstone Property Partners Europe.