AREEF Sunshine fund has sold Project Victoria, an office scheme located in Milan, Italy. The fund is wholly subscribed by Ardian and managed by Prelios SGR, to a real estate investment fund managed by BNP Paribas REIM. Dils acted as advisor for the transaction.
The building is located in Via Melzi D'Eril 34 in Milan, in one of the most exclusive locations of the city, between the Porta Nuova and CityLife districts, and just a few steps from Parco Sempione and Arco della Pace. The micro location is extremely dynamic with international vocation and characterised by elegant mixed use historic buildings, it is also renowned for its restaurants and as a shopping destination. Its proximity to Cadorna railway station that also provides a quick connection to Malpensa Airport, to two underground stops of M1 and M2 lines, makes the area extremely attractive and desirable.
The building is developed on 7 floors above ground floors and a basement level, totalling a GLA of about 5,700m². It has been subject to a complete redevelopment. The project, conceived by Studio Asti Architetti, redesigns the early twentieth century building with a modern design, combining modern and period architectural elements. Sustainability criteria have played a key role in the redevelopment, making it unique among green buildings in Italy, also thanks to the four most prestigious international certifications underway, a clear indication of the highest sustainability and energy efficiency standards: LEED Platinum, BREEAM Very Good, Well Silver and WiredScore. In Italy, the building is among a few to be in line with the ambitious goals set by the Glasgow COP26 conference (2021) and the Paris Agreement (2015), aimed not only at containing consumption, but also at reducing average global warming by 2°C.