Cushman & Wakefield, acting on behalf of Tishman Speyer, has successfully completed the sale of a trophy office asset situated in the heart of Milan, between La Scala and Piazza Duomo.
The property comprising circa 15,000 sq m is the headquarters of Credit Suisse Investment Bank and was sold to a Middle Eastern investor. The lot size remains confidential.
Giacomo De Feo, at Cushman & Wakefield who advised on the deal said; “The depth of demand for this trophy building was remarkable and highlights Milan’s attractiveness for new international capital entering the market.”
In terms of cross border investment, Stephen Screene, head of Capital Markets Italy, stated; “All European gateway cities are now seeing increased interest from global capital and the sale of this core asset at a significant price highlights the continued rebound in Southern Europe.”