International real estate firm Hines bought for 50 million euros an iconic real estate complex in Via Broletto, Milan’s upmarket office street (see here the press release).
The building, Palazzo Aliverti (an 11,000-square-meter 15th-century complex), is the milanese headquarter of the fashion maison Gucci and was sold by Finint Virgilio fund, managed by Italy’s asset manager Finint Investments sgr. Hines was advised by Allen & Overy and DLA Piper for the legal issues in the deal.
This transaction is the fourth investment by Hines in Italy since the beginning of the year, following the purchase of a historical building on Milan’s Via Dante two months ago for 70 million euros, an iconic building on Milan’s Piazza Cordusio for 120 million euros which was sold by Donatello fund managed by Sorgente sgr and a trophy asset in Florence.
