Amadeo 59

Location
Milan
Italy

Sector
Office

Size
11,500 sqm

Under Management
2015 - 2017

Recognising medium term market imbalances to underwrite lease up opportunities

Our team sourced the acquisition of Amadeo 59, a Grade A office building in Milan, for an institutional investor. The property was part of a portfolio of eight Class A/B office buildings acquired off-market from a closed-end real estate fund in a complex multijurisdictional transaction.

The property, constructed in 2011, is located just 10 minutes from Milan Linate Airport and 20 minutes from Milan city centre. It is a Grade A, energy-efficient office space that boasts flexible floor plates, good accessibility near the airport, and a LEED Gold Certificate.

Our team managed to increase the occupancy rate from 33% to 76% after successfully leasing 4,900 square meters of office space, resulting in a 140% growth in gross rent. This achievement was facilitated by the limited supply of Grade A office space and the absence of new speculative development.

Our team utilized their knowledge of the market and existing relationships to secure the deal off-market and their pan-European expertise to handle the complexities of the deal structure. They identified the potential of this property and executed a successful business plan, resulting in increased occupancy and rent. They finally managed the sale to an Italian institutional investor.