Prelios Agency: advisor on the sale of a building in Via Algardi, Milan

Jul 10 2019

The Prelios Agency Capital Market team acted as advisor on the sale of a property located in Via Algardi 2-4, Milan, which has been purchased by the Inarcassa Re - Comparto Uno real estate fund managed by Fabrica SGR.

The property, for use as offices, consists of two interconnected buildings, with a total surface area of about 8,400 sq.m, and has around one hundred parking spaces. It occupies a strategic site adjoining the Fiera Milanocity and Portello districts close to the Portello, Lotto and QT8 subway stations, and has easy access to the Milan orbital roads.

The entire complex is leased to two primary tenants with long-term lease contracts and has undergone a full restructuring involving both the communal areas and the workplaces, with special attention paid to sustainability. It has been placed in the class A energy category and given the "Very Good” Building Research Establishment Environmental Assessment Method (BREEAM) rating, two of the most important international certifications for building environmental sustainability.

Nicola Giorgini, Head of the Capital Market team at Prelios Agency, said: "This transaction is in line with the current investment trend among institutional capital players who are looking for stabilized or core products in Milan, in fast-emerging districts like Portello and CityLife. For Prelios Agency, the sale marks the successful conclusion of the services previously provided for the current owner, when we were involved in the leasing of the property."