Hines, the international real estate firm, has completed on behalf of CNP Assurances, a leading French insurance company, an investment in a trophy office property on Piazza Edison, Milan’s prime office destination adjacent to Piazza Cordusio and the Milan’s stock exchange, for €220m.
The 22,000m² building is located in the very heart of the historical centre of Milan. It has been recently completely renovated establishing a new standard for the office market in Milan in terms of quality and efficiency.
The iconic modern building is fully let to prime international tenants such as DLA Piper, London Stock Exchange, Invesco and All Funds.
Mario Abbadessa, Italy country head for Hines, said: “The historical centre of Milan represents a prime location that has proved to be resilient to market corrections. The asset itself is of particular high quality, making this an attractive investment.”
The legal support was provided by BonelliErede with KPMG for tax, J&A for technical, REAAS for environmental and GVA Redilco for commercial aspects.
