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BNP Paribas Real Estate Investment Management - Contact us
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LEGAL NOTICE

Personal data collected is subject to computer processing in order to handle your request and, when appropriate, for commercial prospection or solicitation purposes by BNP Paribas Real Estate.

In accordance with the regulation relating to personal data protection, Users have a right of access, of opposition and correction of their data. To exercise their rights, Users may send a letter to the personal data protection Coordinator at the following address:

BNP PARIBAS REAL ESTATE,

To the Coordinator of the Personal Data Protection,

167 quai de la bataille de Stalingrad,

92867 ISSY LES MOULINEAUX Cedex, France,

Or by e-mail at: informatiqueetlibertes.bnppi@bnpparibas.com

For further information, please refer to the legal terms and conditions available at the bottom of this page

Press Releases

REIM sells a trophy office asset in Milan

BNP PARIBAS REIM SELLS A TROPHY OFFICE ASSET
IN THE CBD DUOMO OF MILAN

 

© BNP Paribas Real Estate Investment Management Italy

 

BNP Paribas Real Estate Investment Management Italy SGR recently completed the sale process of a prime office asset, situated in the CBD Duomo of Milan, on behalf of the AIF named Concepto, a real estate alternative investment fund reserved to professional investors. This fund is a 50% joint venture between the OPCI BNP Paribas Diversipierre and the AIF named Fundamenta, entirely owned by BNP Paribas Cardif.

 

The asset, that features a total area of more than 11,000 sqm developed on eight floors and two basement-levels, is located in Via Mazzini 9/11, a prime office location in the heart of the historical and financial centre of Milan.

Built in 1935, the asset has been acquired by Concepto in August 2020, right after the completion of the refurbishment works that brought the property to the highest modern and environmental standards, making it a certified LEED GOLD asset.

 

The building is fully leased to WeWork, one of the global leading flexible space providers, headquartered in New York and listed on the New York Stock Exchange since October 2021. With this building, the tenant opened its fourth space in Milan in March 2021, and began operating in the space after the fit-out was completed.

 

Via Mazzini 9/11 is highly attractive for core investors, seeking high quality, office investments with significant ESG characteristics and good covenants. When the asset was acquired in 2020, the investors took a calculated risk during the Covid pandemic in a time of uncertainty and with a tenant that was relatively new to our market. We are pleased to confirm that with such a prime asset, together with the tenants positive contribution to developing the "co-working" offices market in Milan, we have been able to achieve notable results for our investors,” comments Vincenzo Nocerino, Chief Investment Officer at BNP Paribas REIM Italy. 

 

In this operation, BNP Paribas REIM was supported by Dentons as legal advisor, Fivelex Studio Legale e Tributario as tax advisor and Yard REAAS as technical advisor.

 

About BNP Paribas Real Estate Investment Management

BNP Paribas REIM, a business line of BNP Paribas Real Estate, provides a wide range of real estate funds and investment solutions for investors, based on strong convictions. With BNP Paribas REIM, you invest in REAL ESTATE AS LIVING ASSETS. Deeply European, we have a close understanding of local markets, a view on every square meter, every street, every neighborhood, every urban eco-system. With our 330 employees, we care for assets as we care for living beings, aiming to build a better living together for 220 institutional investors and 140,000 private investors. We believe in ESG to reconcile social, environmental and financial performance. We apply innovation to always best adapt to risks and opportunities of today and tomorrow.At the end of 2020, BNP Paribas REIM managed 29 billion € of living European assets on behalf of institutional and private investors.

Further information: www.reim.bnpparibas.com www.reim.bnpparibas.de

 

Press contact:
Press Team – Tel:+33 (0)1 55 65 22 08 – presse.realestate@realestate.bnpparibas
 

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