Macquarie Asset Management has bought a €63m office asset in Italy on behalf of its pan-European real estate strategy.

The manager said it has bought the 6,000sqm Corso Europa 12 asset in Milan on behalf of the Macquarie GLL pan-European property strategy. The eight-storey office building has retail units on the ground floor.

Christian Goebel, co-head of Macquarie Asset Management’s real estate team in Europe, said: “Milan is one of Europe’s most important financial hubs – home to the largest banking groups, most of Italy’s Fortune 500 countries and the country’s stock exchange.

“We believe in the long-term need for high-quality office space and see strong potential in Corso Europa 12’s rental growth and its tenants’ ability to attract the best talent.”

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