French investor Covivio has sold an educational property in Milan to a major institutional investor in an off-market transaction.
Financial details were not disclosed.
The property housing the school complex is located in the former Scalo di Porta Romana, in the Symbiosis district of Milan.
The asset is wholly leased to a leading international group in the education sector. Situated in Viale Ortles, it was designed by architectural firm Barreca & La Varra and occupies an area of approximately 12,500 m2 distributed over six floors which house classrooms, offices and sports facilities.
The structure is designed to be used outside school hours, with social spaces and common areas, such as an indoor gym and semi-olympic indoor swimming pool (25 metres). External areas of 6,000 m2 host a multipurpose playground.
The complex is part of the new Symbiosis Business District, Covivio's urban regeneration scheme which has transformed a former brownfield area of Milan into a new mixed-use urban hub. High ESG standards have made it possible to obtain BREEAM In-Use "Very Good".
Dils advised Covivio on the deal.
