Hines and Blue Noble have invested in a joint venture in the fund managed by Antirion SGR called Smart Stay. The latter has finalised a lease agreement with J.K. Place for the asset in Via Borgospesso 15 in Milan.
A leader in the luxury hospitality sector, the Italian brand has chosen this prestigious property in the heart of the city’s fashion district as its first property in Milan. The building will embrace the consolidated tailoring that has made J.K. Place a leading player in the hospitality sector. The project is for 38 rooms, some with large private terraces, a restaurant on the ground floor which is also open to non-guests, a gym with a wellness area and an elegant internal courtyard.
The building covers an area of approximately 5,000sq m and in the coming months will undergo renovation, based on the highest international standards of energy efficiency and environmental sustainability, with the aim of completing the work and opening in the first half of 2023.
“We are very proud that J.K. Place has chosen our property in Via Borgospesso, for its debut in Milan, recognising its precious historical and artistic value as well as the strategic position it occupies in the heart of the fashion district,” commented Mario Abbadessa, Senior Managing Director & Country Head of Hines Italy. “The arrival of J.K. Place confirms the central role played by the city of Milan in the post-pandemic scenario of economic and social recovery, affirming its relevance in terms of tourism, culture, events and fashion. Tourists and business visitors alike continue to seek new hospitality solutions in great central locations with fantastic amenity provision and quality services. For this reason, we welcome J.K. Place to Milan to meet the needs of visitors, in line with our values and in keeping with our belief in the living sector.”
