Core & Core-Plus Only
We do not speculate on value-add or opportunistic risk. Every acquisition must demonstrate durable income from day one, with an irreplaceable location as its fundamental underpinning.
Pillar II
Real Estate
A curated collection of Grade-A commercial landmarks and trophy assets in premier metropolitan markets. We acquire irreplaceable real estate - buildings that cannot be replicated, in cities that never depreciate - and hold them for income and generational capital appreciation.
Investment Thesis
Strategy
We only acquire or co-invest in assets where location is truly irreplaceable - what the market calls core or core-plus. Our focus spans office towers, mixed-use developments, and select residential in gateway cities: New York, London, Milan, and Lugano.
We never speculate on development risk. Construction pipelines, planning risk, and lease-up uncertainty are constraints we deliberately avoid. Every asset we underwrite must already demonstrate - or be immediately repositionable to demonstrate - the income profile and tenant quality we require on day one.
Our holding horizon is indefinite. We acquire for income and for generational appreciation, not for near-term disposition. This discipline shapes the assets we pursue, the structures we accept, and the partners we co-invest alongside.
Since 2016 we have assembled a small portfolio of properties across our four cities — offices, residential, and mixed-use — acquired directly or through modest co-investment syndicates. We do not publicise individual assets, but our markets of activity include Lugano, Milan, London and New York.
Asset classOffice · Mixed-Use · Select Residential
MarketsNew York · London · Milan · Lugano
StrategyCore / Core-Plus
HorizonLong-term hold - no forced exit
Acquisition Mandate
Mandate Criteria
Gateway Cities
New York, London, Milan, Lugano - markets where institutional demand is perennial, liquidity is deep, and long-term capital preservation is a structural feature of ownership.
Grade-A or Trophy
We exclusively target assets at the top of their submarket's quality hierarchy - modern office towers, landmark mixed-use schemes, and architecturally significant residential blocks.
Long-Term Income Profile
Assets must carry or be repositionable to carry stable, long-dated leases with institutional or high-net-worth tenants. We hold for income and generational capital appreciation.
How We Invest
Access Channels
Direct Acquisition
Principal capital, off-market where possibleThe majority of our real estate is acquired directly, typically off-market via personal introductions. Ticket sizes range from €600k to €1.2M. We act as a single principal, which gives us speed and discretion that larger buyers cannot match.
Off-market preference€600k–€1.2M ticketsPrincipal capital
Syndicate & Fund Participation
Co-investment for diversificationFor assets or markets where a direct acquisition is not practical, we participate as a minority partner in small syndicates or as an LP in boutique real estate funds. Co-investors are vetted personally; we avoid large commingled vehicles.
3–5 partner syndicatesBoutique LP commitmentsMinority positions