Fabrica Immobiliare SGR has purchased the “Project Forma” complex, primarily used for office purposes from the Virtus fund, a closed-end real estate fund sponsored by funds managed by Blackstone.
The complex is located in Milan's CBD, one of the city's most exclusive and strategic areas, just a short walk from Piazza del Duomo and Piazza San Babila. The asset benefits from two entrances - from Via Verziere 11 and Via Cavalotti 14 - and underwent major renovation which was completed in 2021. The scheme consists of two connected buildings, the first has nine floors above ground while the second has five floors above ground.
The building was awarded LEED Gold and BREEAM Excellent certifications and features a distinctive and essential design. Bright spaces with modern and refined interiors connect with outdoor spaces, including an inner courtyard, terraces, and a rooftop with wraparound views of Milan. Strategic CBD location and asset quality, together with ESG requirements confirm to be the main drivers of choice for core investors. Domestic buyers continue to be very active in securing large deals in a competitive market environment.