Generali Real Estate has completed the acquisition of the Cortile della Seta mixed-use historical building in Milan’s Brera district.
The deal was completed on behalf of the pan-European fund Generali Europe Income Holding (GEIH) subscribed by Generali Group companies, and a real estate fund for Poste Vita, both managed by Generali Real Estate.
Each of the two co-investors has a 50% stake.
The Sericon Investment Fund owns Cortile della Seta, which has 19,000 m2 of office space, 2,000 m2 of retail space, and 1,400 m2 of terraces across multiple floors.
The office and retail spaces are on long-term lease to leading global fashion, luxury and design brands, including the LVMH Group (Loro Piana), the Kering Group (Pomellato), and Flexform, Calligaris and Lodes.
The vendor completed a significant renovation project in 2021 to the highest standards for flexible office design, sustainability, energy efficiency, and worker comfort, earning WELL Core certification Platinum, the highest honour for assets built with employee wellbeing and comfort at the forefront of design.
Additionally, the structure is LEED Gold and NZEB (Nearly Zero Energy Building) certified, as more than 50% of its energy comes from renewable resources like solar panels and a geothermal heating and cooling.
