HIG Capital invests in prime office building in Milan

An affiliate of HIG Capital has completed an investment in an 8,600 sq m trophy office building in the historical centre of Milan.

Terms of the transaction have not been disclosed.
The flagship building, which is in area proving increasingly attractive to major international tenants in the financial sector, will now undergo an extensive renovation.
Riccardo Dallolio, Managing Director and Head of HIG Europe Realty Partners in London, says: “Our focus in Italy is on high quality assets with the potential of becoming highly liquid institutional product as the result of the envisaged value add initiatives.”
Gabriele Magotti, Principal at HIG Europe Realty Partners in Milan, adds: “The strong demand in the historical centre of Milan for both high-street retail and office tenants makes the restoration of these historical buildings an attractive investment proposition.”