TH Real Estate’s European cities fund has added a second asset in Italy to its portfolio by acquiring the Via Darwin complex in Milan for €100m.
European Cities Fund bought the property from Brioschi Sviluppo Immobiliare.
TH Real said the asset was acquired through the subscription of quotas in an Italian real estate fund managed by Antirion SGR.
Via Darwin is an office and university campus comprising of 15 buildings totalling 26,917sqm.
Liz Sworn, the co-fund manager for the European Cities Fund, said: “Via Darwin consists of good-quality buildings and has a strong and well-diversified tenant mix.
“The asset has produced a stable income and there is an attractive pricing advantage compared to central business district offices. We believe this acquisition is a great fit for the fund and embodies one of our strategies of investing in up-and-coming regeneration areas in Europe.”
Via Darwin is the eighth acquisition for the fund, and the second asset in Italy, following the first acquisition of Meraville Retail Park in Bologna.
The European Cities Fund applies strategies designed to focus on diversification, income and long-term capital growth.
These strategies focus on investing in high-quality assets in leading cities that are well-positioned in terms of long-term structural trends, including demographic change, urbanisation and technology.