CBRE Global Investors, on behalf of its clients, has acquired Piazza Duomo 25, Milan. The seller was Sviluppo Immobili Milano Centro, a company belonging to the Real Estate Group headed by Giuseppe Statuto.
The 9,088 mqs asset is a mixed use real estate property that was previously a hotel and has been converted into retail and offices.
The retail element consists of approximately 4,200 mqs (ground floor to third floor) and is let to H&M on a 22 year lease. The remaining 4,888 mqs (fourth to seventh floor) is office space which is currently vacant, and will undergo repositioning.