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December 19, 2016

GVA Redilco complete sale of trophy asset in Milan

GVA Redilco has completed the sale of a 22,000 sq m trophy asset in Milan for a price of €220 million, the highest price in 2016 in Italy for a single office asset deal.

GVA Redilco has advised on the sale of a €220 million office building in the Milan CBD, just a few steps from the Italian Stock Exchange

The building, with a GLA of approx. 22,000 sq m., recently underwent a complete renovation establishing a new standard for the office market in Milan in terms of quality and efficiency.

The Trophy Office Asset, fully let to prime international tenants such as DLA Piper, London Stock Exchange, Invesco and All Funds, was bought from Hines the international real estate firm, on behalf of CNP Assurances, a leading French insurance company.

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