M&G inspects property in Italy, starting with hostels
s potential, but is still too tied to tradition and requires patience. In the last few days, the company has concluded two important deals worth 70 million euros. The first deal is an already completed residential building acquired at a price of 36.5 million euros. The building consists of 7 floors and 67 high quality apartments, of which 48 are rented at market price and 19 at a preferential price. In Lisbon, a student housing development specifically designed for Portugal's most prestigious engineering university was acquired.
In January this year, UK Living launched the M&G European Living Property fund, which is a continuation of the experience gained with UK Living -''a €1.5 billion fund focused on UK housing. The new European fund, aimed at institutional investors, invests in European residential real estate, including student housing, private and multi-family housing, and retirement homes. It includes €600 million in investments from client M&G MN, a pension fund and pension fund asset manager in the Netherlands, as well as €178 million from M&G's internal client fund.
Markus Eilers, head of residential real estate in Europe, is responsible for the development of the residential sector in Europe. The M&G fund has already acquired serviced apartments in Finland for €75 million, residential rental homes in Ireland for €99.5 million and in
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