Global real estate investor Hines is reported to be planning to sell the Liberty Tower in Milan, an asset which it holds in joint venture with Dutch pension fund PGGM, for around €150 mln.
The 6,000 m2 asset, which was acquired by the partnership in 2017, was originally constructed between 1955 and 1956 by brothers Eugenio and Ermenegildo Soncini and stands in the centrally located Piazza del Liberty.
A comprehensive regeneration project, completed in Q1 2021, brought the asset up to Leed Gold standard over its 11 floors.
The office space in the mixed-use property is leased to private equity firm Ardian and consultant Business Integration Partners.
The property also includes retail units at ground and first floor.
Hines is one of the most active international investors in Milan at the moment. Its other assets in the city include Torre Velasca, Spiga 26 and a sizeable investment in the MilanoSesto regneration scheme north of the city.
