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Meyer Bergman Fund buys on Corso Buenos Aires in Milan

A fund advised by real estate investment manager Meyer Bergman has acquired one of the largest stores on Milan's Corso Buenos Aires, the Italian fashion capital's principal shopping street for mass market brands. The terms of the purchase from the private property company Porta Rossa are not being disclosed. Specialists advising the fund on the purchase were Rustioni & Partners, Hilex, Proima and PwC. Meyer Bergman European Retail Partners III (MBERP III), the value-add property fund that is currently capital-raising, has purchased value-for-money retailer Upim's store at 33-37 Corso Buenos Aires. The property consists of the ground and first floors of three adjoining buildings and comprises a total of 3,750 sq.m. of space. The buildings'...[…]