COIMA SGR has purchased a retail building in Piazza XXV Aprile in Milan for €60m from Eataly Real Estate. The company has also signed a 21-year lease agreement with Eataly S.p.A. for the retail spaces of the building, which will see the popular gourmet shopping and dining concept continue to serve customers in Porta Nuova as part of the neighbourhood’s expanding retail and hospitality offering. The acquisition of the 5,000m² building has been made via COIMA CORE FUND I, a fund established in December 2011 which includes Enasarco and ENPAM among the investors. COIMA’s objective is to further strengthen the retail area managed in Porta Nuova, and create a portion of the city that will guarantee visitors an experiential offer built around brands with strong ESG credentials and brand ethics around issues such as the sustainability of products and shops, and the wellbeing of workers.
Manfredi Catella, Founder and CEO of COIMA SGR, said: “This investment will be transformational for Porta Nuova’s retail and hospitality offering, which will benefit from an increase in footfall from 10 million to over 15 million by 2025. By working with Eataly, a world-famous Italian company, we are staying true to Porta Nuova’s Italian roots, whilst at the same time creating a global attraction. With Eataly, we have found a partner with whom we share sustainability objectives throughout the entire production and distribution chain. Porta Nuova will increasingly become an exemplar model of neighbourhood management through the creation not only of a destination but of an active community with smart, tech-enabled benefits, in which residents, workers, visitors and tourists live, work and play.”
Luca Baffigo Filangieri, Eataly Real Estate Advisor, said: “Passing ownership of this building on to COIMA confirms Eataly Real Estate’s continued strategy with a view to redevelopment and relaunch. With this deal, the building where Eataly Milano is located fully becomes part of the innovative urban transformation of the neighbourhood of Porta Nuova which represents one of the most interesting areas in Milan.”