BPPEH Acquires Trophy Milan City Centre Portfolio
BPPEH has acquired an 80% controlling interest in Reale Compagnia Italiana, a privately-held Italian company that owns a portfolio of high-quality assets primarily located in Milan city centre, and has launched a public tender offer to acquire the remaining shares, for a total purchase price of €1.1 billion.
The portfolio is comprised of 14 assets totalling 92,500 square meters and is concentrated in central Milan, the city boasting the highest GDP per capita in Italy. The portfolio includes a trophy asset on Via Montenapoleone, Milan’s iconic luxury high street; two landmark office properties in central Milan; nine well-located residential properties in Milan; a 5-star hotel in central Milan, fully leased on a 14-year term to one of Europe’s largest operators; and a historical gallery in central Turin.
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.