Alternative asset management and investment group Tikehau Capital has acquired an office building located in the Milanofiori business district in the southern part of Milan, through its panEuropean Tikehau Real Estate Opportunities (TREO) fund launched in 2018.
The office building in Milan is comprised of c. 19,000 sqm of total gross lettable area, 100% of which is currently let. The asset, originally built in the 80s, provides an attractive opportunity to refurbish a property to Grade A standard in an area that lacks such buildings at a competitive rental price.
“This operation is in line with the value-add investment strategy of TREO and the acquisition of buildings in the Milanofiori business district confirms our strategy to focus on assets offering great potential in attractive locations. We are very pleased to invest in Milan in this
unprecedented time. It confirms our long-term commitment to the country, in the city where Tikehau Capital has an office and demonstrates our conviction that Italy will provide significant investment opportunities in the long term,” said Luca Bucelli, Head of Italy at Tikehau Capital.
The asset is located in the southern part of the established Milanofiori centre that hosts the Italian headquarters of several international corporates. It benefits from excellent connections to the city centre through the MM2 underground line and Linate airport is only 30 minutes away by car.