Generali Real Estate has acquired Cortile della Seta, a mixed-use historical building in Italy.

The €38bn real estate manager said it has completed the acquisition of the fully-leased asset in the Brera district in Milan on behalf of the pan-European Generali Europe Income Holding fund and a real estate fund subscribed by Poste Vita. Financial details were undisclosed.

Cortile della Seta was held by the Sericon Investment Fund, a real estate investment fund managed by Savills Investment Management. 

The asset comprises over 19,000sqm of office space and 2,000sqm of retail space, with 1,400 sqm of terraces across multiple floors.

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