MILAN – 14 Feb. 2022 – A team from Greenberg Traurig Santa Maria assisted private equity real estate firm Henderson Park with the acquisition of a mixed-use portfolio in Milan for 221 million euros from Italian utility firm A2A. Henderson Park is headquartered in London. The transaction is Henderson Park’s first in Italy.
According to Henderson Park, it is looking to reposition the properties to take advantage of increasing demand from occupiers for new, prime, amenity-led office and residential accommodation with strong sustainability and wellness credentials. Henderson Park also noted that the transaction further extends its reach across Europe and provides significant management opportunities.
The largest property in the portfolio, Corso di Porta Vittoria 4, is an 18,000m² standalone office building occupying an entire block within Milan’s historic city centre. The second asset comprises five buildings totalling 6,600m². The buildings offer the potential to increase the gross leasable area (GLA) by 16,000m² and undertake a comprehensive repositioning suited to both residential and office uses. The third asset presents an opportunity to deliver a 50,000m² residential development which capitalises on local infrastructure works
A Greenberg Traurig Santa Maria team led by Shareholder Federico Barbàra together with Associate Flavia Guancioli, and Trainee Roberta Strippoli, assisted Henderson Park, Maston (the Italian investor and developer of high-quality office and residential properties), and its two real estate funds in all phases of the portfolio acquisition, which underwent a competitive process, including the establishment of the two funds designated for the acquisition. Greenberg Traurig Santa Maria Shareholder Corrado Angelelli, Associate Francisco Santini, and a team from the Greenberg Traurig London office led by Shareholder Partha S. Pal also followed the aspects related to financing.