Luxury real estate investor Trophaeum has acquired a super-prime retail asset on Piazza di Spagna in Rome for €15 mln.
The historic asset comprises 180 m2 over two floors, and stands adjacent to Valentino’s Italian flagship, Dior and the famous Spanish Steps in the heart of Rome's luxury shopping district.
'Very few buildings have been sold in Piazza di Spagna in the last decade or so,' commented Matt Farrell, managing director of Trophaeum. 'Trophaeum was keen to lock down an asset in the Spanish Steps area, where families rarely trade assets.'
The acquisition follows a recent €150 mln shopping spree in Milan’s Quadrilatero della Moda, the city's fashion district, and a deal for a 19,800 m2 asset on Via Mascagni 6-8, all executed over the last 18 months.
Trophaeum recently leased a retail unit on Via Sant Andrea to LVMH and said it would keep increasing its focus on the Italian luxury market.
