AXA Investment Managers – Real Assets acquires Grade A office building in Milan for €45 million
Benefitting from excellent accessibility and transport connections, the U7 building is adjacent to the MM2 Assago Milanofiori underground station, while the city’s West Ring Road and A7 motorway are also in the immediate vicinity. Milanofiori North sits just eight kilometres outside of the city centre and 15 kilometres from Linate airport.
Alessio Lucentini, Local Head of Asset Management & Transactions in Italy at AXA IM – Real Assets, commented: “Having first gained exposure to Milanofiori North through our acquisition of the adjacent U10 asset over two years ago, we’ve been impressed by the district’s performance and have confidence in its longer-term prospects, which is what led to us taking the opportunity to make this further commitment through the acquisition of U7.”
“This property adds to the Italian portfolio, we manage on behalf of our clients, which has now reached €1.7 billion, with a significant proportion dedicated to Milan offices, where we remain firm believers in the sustainable occupier demand and where we have been particularly successful in accessing attractive investment opportunities to create value for our clients.”