Barings Real Estate Advisers has bought its first asset for its value-add strategy. The investment manager paid an Italian insurance group (Sara Assicurazioni ) €44.35 m for a Milan office asset. The investment is being made through the “Barings Value Add I Italy”, an alternative investment fund managed by Kryalos SGR. The 23,000 sqm building, in Via Pola 9-11 in Porta Nuova, includes ground floor retail space.
L’ edificio, a destinazione mista , non essendo fully let, verrà “valorizzato” e “ riposizionato” . Tenant target : le società di servizi “ che supportano” i prime tenant di Porta Nuova.
Barings Real Estate Advisers è guidata in Italia da Valeria Falcone,