UBS Asset Management buys Milan business park
UBS Asset Management acquired the La Forgiatura business campus on behalf of two corporate investors. Financial details were undisclosed. It is the first deal for UBS AM Real Estate & Private Markets’ European Club Deal strategy.
La Forgiatura is an integrated campus on the site of a regenerated nineteenth century industrial complex with 30,000sqm of grade-A office space. In addition, there are nine individual buildings and a further one under construction, and more than 400 on site parking spaces. The property is situated in the North Western part of the city. Also, it is Milan’s first entirely carbon free scheme and is LEED certified.
UBS said, “Drew together two institutional investors with aligned interests and a strong appetite for direct access to income-producing real estate with long-term growth potential, and identified the attractive investment opportunity and structure.”
Fulya Altunyay/[email protected]