The Capital Market team at Prelios Agency has completed the sale of a building in Corso Europa 22, Milan, for an amount of approximately 34 million Euro.
The property is located in the city center, close to San Babila and the Cathedral, in a district undergoing redevelopment that is attracting strong interest among institutional investors.
The building in Corso Europa 22 – a free-standing property for commercial and office use leased in part to tenants of prominent standing – has a surface area of 2,700 square meters and seven storeys above ground. It has been sold, by five separate private and institutional sellers, to a property fund in the Prelios SGR portfolio.
Nicola Giorgini, Head of Capital Market at Prelios Agency, said: "In today’s market, where the large flow of institutional capital is unlikely to encounter an immediate core product availability, this operation confirms the importance of creating new investment opportunities aligned with the objectives of the institutional players who are looking at Milan with great interest. The property in Corso Europa 22 is an operation of this type, because it combines stability with opportunities for future enhancement.”