Macquarie Asset Management has acquired an office building in central Milan for approximately €119 million through an Italian real estate fund. The investment was on behalf of a managed account.
The historic property in the Porta Romana district spans 20,600 square meters and was previously owned by All Star, a fund managed by Kryalos SGR and sponsored by funds managed by Blackstone. Built in the early 1900s it was fully renovated in 2020 to incorporate modern design and sustainability standards and has since been awarded a ‘Very Good’ rating under BREEAM’s sustainable building certification scheme.
The iconic property, which is divided vertically over three blocks, offers tenants flexible and efficient floorplans. It is fully leased to a diverse mix of tenants active in the fintech, green energy, and food and beverage sectors.
Source: Macquarie.com on the 17th of November 2022
https://www.macquarie.com/au/en/about/news/2022/macquarie-asset-management-acquires-office-building-in-milans-porta-a-romana-district.html