Deka Immobilien has acquired the Italian office of the fashion company Dsquared2 in Milan. The property will be added to the open-ended real estate fund Deka-ImmobilienMetropolen. This acquisition is yet another European metropolis that further diversifies the portfolio and follows recent acquisitions in Paris, London, Berlin, Dublin and Prague. The parties agreed not to disclose the purchase price.
The representative property, Ceresio 7/9, comprises a total area of around 8200m² and, in addition to the Italian office of the fashion label Dsquared2, houses the popular rooftop restaurant CERESIO 7, which boasts wonderful views of the Milan skyline and an exclusive fitness studio. The property, which the fashion company extensively revitalised in 2010 while maintaining its original appearance, is fully leased on a long-term basis.
Ceresio 7/9 is centrally located in the vibrant Porta Volta district, directly next to Milan's newly constructed Central Business District, Porta Nuova. The area has developed into a fashionable hotspot referred to as the "design square", which is one of Porta Volta's key sub-markets thanks to the studios and offices of international fashion, lifestyle and technology companies that are found there.