JP Morgan and Maston sell the “Cortile della Seta” building for over 350 million, the highest single asset transaction in Italy
Anticipated by Sole24Ore last April, the sale of the famous Palazzo del Cortile della Seta in Milan has just been finalized. Buyers are Generali and Poste Vita – together the two players have already bought properties in Frankfurt, Berlin and Rome (in this case it was Parco Leonardo), which have put on the plate the counter value of 35o million euros to include in portfolio an iconic property in the Italian market.
The redevelopment of the building, managed by Maston Investment Management, as strategic development advisor of the fund, has allowed the property to obtain the Well Core Platinum certification, the highest recognition for buildings designed for people’s health and well-being. The building is also certified Leed Gold, and is Nzeb (Nearly Zero Energy Building) recognized, with over 50% of the energy originating from renewable sources, including photovoltaic panels and a geothermal system for heating and cooling.
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