Barings and Savills IM completed the acquisition of BTR in Milan.

Barings, a global investment management firm, and Savills IM, a full range of property-related services provider, completed the acquisition of build-to-rent development opportunity in Milan. Financial terms were not disclosed. "This off-market acquisition reflects the strength of Barings’ local knowledge. The Grade A build-to-rent development, which will target excellent ESG credentials and benefit from the regeneration of the wider neighbourhood, will make it a highly desirable place to live. With low unemployment and one of the highest housing supply-demand imbalances in Europe, investing in quality, much-needed new homes in Milan is very attractive and makes this an even more compelling addition to BREEVA II’s portfolio in Italy," Marco Corti, Barings Managing Director and Head of Italy Real Estate.