Italian fund Monte dei Paschi Hines Real Estate Crescita (MHREC) has acquired an office building in the EUR district of Rome from fellow Italian property fund Tikal Re Fund, for an undisclosed sum. The building is located at Piazzale Don Luigi Sturzo 23/31 and covers a gross area of 18,800 m[sup]2[/sup].
Italian fund Monte dei Paschi Hines Real Estate Crescita (MHREC) has acquired an office building in the EUR district of Rome from fellow Italian property fund Tikal Re Fund, for an undisclosed sum. The building is located at Piazzale Don Luigi Sturzo 23/31 and covers a gross area of 18,800 m2.
Hines acts as the strategic advisor for the MHREC fund, which is promoted by Italian lender Banca Monte dei Paschi di Siena and will also be responsible for the redevelopment of the building, which is set to be completely redone. Sai Investimenti Sgr, the investment arm of Italian insurer Sai manages Tikal Re Fund, while its advisor is Italian property company Immobiliare Lombarda.
