(AOF) – Kering announced the acquisition of the company that owns the Milan building located in via Monte Napoleone 8, for an amount of approximately 1.3 billion euros, from a subsidiary of Blackstone Property Partners Europe. This investment is part of the luxury group’s selective real estate strategy, aiming to secure key and highly desirable locations for its Maisons. “Located on the most prestigious corner of the Quadrilatero della Moda, the 18th century building extends over five floors, totaling 11,800 square meters of gross floor space,” specifies the group.
“The complex includes more than 5,000 square meters of commercial space, making it one of the most important on via Monte Napoleone.”
Kering’s short- to medium-term objective is to maintain a stake in its main real estate assets alongside co-investors in dedicated vehicles.
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