GVA Redilco and CBRE advised Goldman Sachs on the sale of a trophy asset in Piazza San Babila, Milan
December 23, 2019
It’s one of the most important Real Estate transactions of the year and the biggest single asset deal in terms of size.

GVA Redilco and CBRE advised Goldman Sachs in the sale of a 21,000 sqm GLA asset, in the heart of the historic centre of Milan, to a closed-end alternative real estate investment fund reserved for professional investors and managed by DeA Capital Real Estate SGR S.p.A.

The prestigious asset consists of three connected blocks and is located on Piazza San Babila, a strategic, multipurpose area in the heart of the city’s busiest, best-known cultural, commercial and tourist destination.

The mixed-use asset (office and retail) has an E-shaped layout and comprises 7 floors above ground – which are fully let to national and international service and energy sector companies – and 5 basement floors hosting storage, plant rooms and parking spaces.

Overlooking Corso Vittorio Emanuele II and Corso Europa, the two main wings of the building benefit from very good visibility. The offices, with their cutting-edge design and abundant natural light, feature flexible, functional and stylish spaces. The rooftop of the block on Corso Vittorio Emanuele hosts a 320 sqm terrace with a stunning view over the Duomo cathedral and Milan skyline.

The business centre was recently fully refurbished including common areas and working spaces with a specific focus on sustainability, which led to energy class A building certification besides the prestigious LEED Gold and Well certifications.

The asset was sold for more than € 280 million.
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