New owner for Milan Assago
Axa Investment Managers Real Assets has acquired the Assago office property in Milan for a client. The seller was a Sireo real estate fund; the purchase price was 27 million euros.
The "Assago" comprises a leasable area of 19,500 sqm on five upper floors; in addition, there are parking spaces in the basement. The property was built in the 1980s and has undergone intensive refurbishment and revitalization in the past. It is fully leased.
The asset is located in the south of Milan, ten kilometers from the city center, in the Milanofiori office district, one of Italy's largest and most established office locations. In addition to offices and conference centers, Milanofiori also includes a shopping center, two hotels, and sports and leisure facilities.
Axa IM Real Assets has made several acquisitions in Italy in the last six months, including properties such as Via Battistotti Sassi 11 and Torre Beta, both also located in Milan. (ah)
