Torre Richard: New Property Administration & Building Management Appointment

Svicom has been appointed to provide Property Administration and Building Management services for the common areas of Torre Richard, a residential development in Milan developed by Hines and owned by the reserved real estate alternative investment fund “Milan Living Fund BTR 1”, managed by Savills Investment Management SGR.

The appointment further strengthens Svicom’s position in the Living asset class, which represents one of the company’s key areas of strategic development.

Torre Richard is the result of the redevelopment of Milan’s San Cristoforo area, formerly home to the historic Richard-Ginori manufacturing site, transforming a significant industrial site into a new residential development. The building extends over approximately 11,800 sqm across 18 floors and comprises 122 residential units, complemented by a comprehensive range of amenities designed for residents, including coworking spaces and fitness areas.

«Built to Rent requires a management model capable of combining operational efficiency, service quality and a consistent focus on the residential experience. We are pleased to begin this collaboration, bringing our expertise and an approach focused on continuous innovation and long-term value creation for the asset», commented Iolanda Nicastro, Head of Client Services at Svicom.