Ardian and Prelios sell office building in Milan to BNP Paribas Reim

Private investment house Ardian and Italian real estate and asset manager Prelios have sold an iconic office building in Milan’s city centre to BNP Paribas REIM.

Asti Architetti transformed the early 20th-century structure in Via Melzi D'Eril into an urban campus with 5,700 m2 of gross leasable space.

The asset provides modern and flexible office space and features 300 m2 of panoramic terraces, 300 m2 of rooftop with a 360-degree view of the Milan skyline, and an 800 m2 garden.

It will become the new HQ of a leading IT consulting company and a notable co-working services company.

Matteo Minardi, managing director of Ardian Real Estate, said: ‘Melzi d'Eril's success demonstrates how the pandemic has shifted office market demand towards sustainable buildings that prioritise employee well-being. One of the main challenges that companies are experiencing is the ability to attract and retain talent.’

Rodolfo Petrosino, senior managing director, Ardian Real Estate, commented: ‘The sale of Melzi d’Eril in the context of an uncertain and volatile market highlights the strength of Ardian’s strategy to create high quality, sustainable assets, aligned with the highest international ESG standards. We will continue to focus on acquiring and transforming secondary assets into green buildings amid growing institutional investor appetite for these sites.’

Patrick del Bigio, CEO, Prelios added: ‘The interest shown by international tenants and investors in properties repositioned according to international best practices confirms the long-term sustainability of the Milan and Rome markets. This is also demonstrated by the recent launch of new operations by Prelios SGR in both cities.”

Fully aligned with the Paris Agreement CO2 emissions goals, the building features LEED Platinum, BREEAM Very Good and Well Silver certification, and is WiredScore compliant.

This has been achieved through the application of advanced technologies, including an IoT infrastructure that, combined with AI, monitors and minimizes energy consumption.

The office building is located in an exclusive, dynamic and international area of Milan, between the Porta Nuova and CityLife districts, a few steps from Parco Sempione and the Arco della Pace.

It is well-served by public transport, with several underground lines and the Cadorna railway station, from which there is a connection to Malpensa airport.

Dils acted as commercial advisor and Linklaters as legal advisor for the transaction.

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