Gruppo Statuto to acquire Piazza San Babila in Milan for €230 million (IT)

The Italian investment company Gruppo Statuto has acquired one of the most prestigious buildings in Milan from Morgan Stanley and Pirelli RE for more than €230 million.

The building involved is a complex with office, retail and residential space, located on Piazza San Babila 1. The complex has a vendible floor space of approximately 25,000 m² and is situated on a prime site in the city's center.

CB Richard Ellis' Milan office, was the mediator in the acquisition and has been asked by Gruppo Statuto to create a new concept for the shops, which are situated at a stone's throw from Corso Vittorio Emanuele II, Milan's number one shopping street.

Source: Vastgoedmarkt

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