The pan-European property investment specialist purchased a 1,500-square metre grade-A asset in Milan, in addition to a 600-square metre retail asset in Rome.
Located in Milan’s fashion district, the four-storey property was purchased from The Kering Group and is fully-let to Italian menswear house, Brioni.
The Rome acquisition is currently fully-leased to a LVMH brand, and is located on the Via Condotti, a renowned high-street retail location.
Ian Kelley, fund director for Europe at BMO REP, said: “These two latest additions to our portfolio are a clear demonstration of our capacity to source and deliver rare investment opportunities across Europe for our clients.”
“Both properties are highly sought retail investments, holding ultra-prime locations in two of Italy’s leading cities, and offering the fund an increased exposure to the country’s growing luxury sector. Given the positive outlook for luxury retail in both Milan and Rome, we are confident in our ability to generate attractive returns from each asset for our investors.”