Switzerland-based investment manager Partners Group is to invest in real estate portfolios in Poland and Italy with a gross asset value of €500 million.
The portfolios comprise 11 residential properties in Italy and 11 office assets in Poland. The properties have a combined leasable area of 170,000 sq m and are being acquired on behalf of clients.
Most of the Italian assets are located in the centre of Milan, with some in Rome and Turin. Italian operating partner InvestiRE SGR, part of Banca Finnat Group, will manage the 70,000 sq m Italian portfolio and will also co-invest alongside Partners Group.
The Polish office portfolio comprises class-A office properties in Kraków and Wrocław and there is 100,000 sq m of standing assets, and a further 25,000 sq m under construction. Polish operating partner REINO Capital will manage these assets.
Significant enhancements are planned for both portfolios including, in Italy, unit-by-unit renovations, a full refurbishment of common areas, and selective re-development .
Partners Group said value creation efforts across both portfolios will reflect its focus on sustainability, community and wellness through amenities, such as gym facilties and co-working spaces, as well as energy efficiency.
“Milanese city-centre locations, as well as exposure to blue-chip office tenants in Poland, provide significant downside protection and counter-cyclical features, which are in line with Partners Group’s relative value investment approach,” said Marco Denari, a member of management, private real estate Europe, Partners Group.