Torre Velasca – Milan, Italy
Hines European Value Fund 1 uncovered this rare opportunity to acquire and refurbish a vacant, historically-iconic building in the heart of Milan.
Hines European Value Fund 1 (HEVF 1)
Preserving an Icon
AT A GLANCE
Milan, Italy
Torre Velasca is an iconic building located less than a kilometer from the Duomo in Milan.
20,706 sqm
Description
HEVF 1 acquired this landmark asset in 2020. Located in the historic center of Milan, the investment thesis behind Torre Velasca is a regeneration of this vacant but iconic asset into a high-quality, mixed-use trophy asset. The scheme will comprise of Grade-A offices, luxury residential units, ground floor retail, and two restaurants overlooking the city’s skyline. Torre Velasca is targeting LEED Gold certifications1 upon expected completion in H2 2024.
1There is no guarantee that the Fund will achieve all of its ESG objectives. See ESG Disclaimers for additional information about certifications and ratings.
Gallery
Disclosures
Torre Velasca is an existing HEVF 1 asset. It should not be assumed that investments in the future will be comparable in quality or performance to the investments described herein. Case studies presented herein are for illustrative purposes only, have been selected in order to provide examples of the types of investments to be made by Hines for the Fund and do not purport to be a complete list thereof. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein.