Cushman & Wakefield, acting on behalf of Tishman Speyer, has successfully completed the sale of a trophy office asset situated in the heart of Milan, between La Scala and Piazza Duomo.
The property comprising circa 15,000 m² is the headquarters of Credit Suisse Investment Bank and was sold to a Middle Eastern investor. The lot size remains confidential.
Giacomo De Feo, at Cushman & Wakefield who advised on the deal, said: “The depth of demand for this trophy building was remarkable and highlights Milan’s attractiveness for new international capital entering the market.”
In terms of cross-border investment, Stephen Screene, head of capital markets Italy, stated: “All European gateway cities are now seeing increased interest from global capital and the sale of this core asset at a significant price highlights the continued rebound in Southern Europe.”
Source: Cushman & Wakefield