13 December 2017
Grosvenor Europe sells three high street retail units in Milan to AEW-managed fund
Grosvenor Europe (Grosvenor), one of four operating companies of Grosvenor Group, one of the world’s largest privately-owned property groups, has sold its Milanese retail portfolio on Via Torino to a fund managed by AEW.
The portfolio of three retail units sold for around €44mn, and are located in one of the prime retail areas of the city, connecting Piazza Duomo with Porta Ticinese. The portfolio comprises approximately 1,655 sqm of total gross leasable area, which is fully let to Pull&Bear, Pandora and AW Lab.
Pietro Clemente, Director, Italy, Grosvenor Europe, comments: “Grosvenor is dedicated to delivering the best returns to our investment partners and the sale of the Via Torino portfolio has had a very successful outcome in this regard. Following this sale, Grosvenor will continue to look at other opportunities to invest in Milan.”
Grosvenor was advised by Grimaldi, legal advisor; Agi-RE, technical advisor and BDO, corporate and tax advisors, while AEW was advised by Gatti Pavesi Bianchi, legal advisor; Prelios, technical advisor; Oxalis Real Estate and Studio Colombo, corporate and tax advisor.
For more information contact:
Rebecca Dwyer, Press Office
020 7312 6101
Notes to Editors
Grosvenor Europe invests, develops, operates and manages real estate assets and funds, with a focus on six European cities: Paris, Lyon, Stockholm, Madrid, Milan and Liverpool.
Building on our recognised skills and the wider Grosvenor Group’s 300 years of experience in real estate, we adopt a long-term, value-add approach to investment, development and management. We work closely with like-minded partners and aim to create value for our partners, shareholders and the local communities in which we work by creating compelling investment strategies that are expertly implemented by our local teams.
Previously known as Grosvenor Fund Management, as at 31 December 2016 we managed £2.9bn / €3.4bn of assets, including a portfolio of historical buildings in the heart of Lyon’s city centre in France, Liverpool ONE in the UK and Skärholmen Centrum shopping centre in Stockholm. We also have three residential developments underway in Madrid.
For more information visit: www.grosvenor.com or follow us on Twitter: @GrosvenorEurope