(CercleFinance.com) – Kering announces the acquisition of the company that owns an emblematic building located in via Monte Napoleone 8 in Milan, for an amount of approximately 1.3 billion euros, from a subsidiary of Blackstone Property Partners Europe.
Located on a corner of the Quadrilatero della Moda, this 18th-century building extends over five floors, totaling 11,800 m² of gross floor area. The complex includes more than 5,000 m² of commercial space, making it one of the largest on Via Monte Napoleone.
This investment is part of proactive management of the real estate portfolio and the selective strategy of the French luxury group, ‘aimed at securing key and highly desirable locations for its homes’.
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