Type: Value Add
Location: Various locations throughout Italy
The 50,000 sqm office portfolio was acquired, by a director of Boxberg Capital when working for a fund entity and in joint venture with a local operating partner. The seller was an Italian pension fund which had changed strategy from direct holdings to indirect investment. The portfolio was of mixed quality and use and posed a range of challenges. Following an intensive asset management program, the portfolio was later successfully sold, two years ahead of business plan.