Allianz has reportedly acquired an office building at Milan’s Via Solferino from US asset management giant Blackstone for a price of €200 million.
According to a news report by Italian paper Il Sole 24 Ore, the transaction took the form of a sale of the units in the Delphine fund managed by Kryalos and invested by Blackstone.
The office complex consists of 3 buildings fully leased to Cassa Depositi e Prestiti, flexible office group WeWork and to a bank. The deal follows Blackstone’s sale last July of an adjacent office building let to Italian paper Corriere della Sera to publishing group RCS for €60 million. The entire complex had been part of a court battle up until mid 2021 (read more here).
Blackstone Real Estate Partners Europe IV bought the asset in 2013 through the Delphine fund and was believed to be in negotiations with Allianz to sell the property for €250 million, before the law suit with RCS stalled the sale
Source: propertyeu.info on the 23rd of January 2023
https://propertyeu.info/Nieuws/Allianz-takes-over-200m-Milan-office--report/e6986dbd-208d-4611-84f7-70bfe640b836