GVA Redilco and CBRE advisors to Crédit Agricole in the Sale and Leaseback of their HQ in Via Armorari 4, Milan
May 28, 2020
GVA Redilco and CBRE have assisted Crédit Agricole Italia as advisors in the sale of their property in Via Armorari 4, in Milan.

The deal, which allows Crédit Agricole Italia to remain in one of the most important and prestigious Milan locations, is worth € 140 million and was carried out by Allianz Real Estate, on behalf of several companies of the German insurance group, trough the Kensington fund managed by Kryalos SGR.

The property is strategically located in a well-served location just a few steps from Piazza Duomo, in the heart of Piazza Cordusio's renewed financial district, an area where retail and offices are under continual, growing evolution and where historic buildings are redeveloped to attract prime tenants seeking an iconic location for their headquarters in Italy's main economic centre.

Thanks to the refitting carried out between 2014 and 2017 – in line with the very highest standards in terms of quality, technology and environmental sustainability as required by the market – this prestigious property, which is an expression of the eclectic Milanese architecture of the early 1900s, is now a modern asset characterized by large workspaces, both flexible and inclusive to facilitate collaboration, and by new concept design.

This deal emphasizes the heightened interest from investors for renewed and efficient trophy assets in prime locations in the center of Milan.