Meyer Bergman buys in Milan
News
by
Louisa Clarence-Smith
Meyer Bergman, acting on behalf of a fund, has bought four vacant buildings for redevelopment on Milan’s longest shopping street, Corso Buenos Aires.
Meyer Bergman European Retail Partners II acquired 59 Corso Buenos Aires and 2, 4 and 6 Via Errico Petrella, which together comprise 279,862 sq ft, for an undisclosed sum.
Two thirds of the properties are flats.
Meyer Bergman, acting on behalf of a fund, has bought four vacant buildings for redevelopment on Milan’s longest shopping street, Corso Buenos Aires.
Meyer Bergman European Retail Partners II acquired 59 Corso Buenos Aires and 2, 4 and 6 Via Errico Petrella, which together comprise 279,862 sq ft, for an undisclosed sum.
Two thirds of the properties are flats.
Paulo Sarmento, principal at Meyer Bergman, said: “This investment fits perfectly with the fund’s strategy of targeting high street properties in the main retail destinations of Europe’s major cities.
“Offering an extensive façade on Corso Buenos Aires, this is a tremendous redevelopment opportunity, since large retail units are in such short supply on this major shopping street.”
Corso Buenos Aires is the main arterial road that runs north from the historic centre of Milan.
Retailers already operating in the street include Zara, H&M, Mango, Nike, Bershka, Stradivarius, Terranova and OVS.
Rustioni & Partners and Hilex provided MBERP II with retail and legal advice respectively; Sansedoni Siena SpA and Gianni Origoni Grippo Cappelli & Partners acted for the vendors with the real estate and legal advice respectively.
louisa.clarence-smith@estatesgazette.com
