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Ubi Banca sells the Cortile della Seta building to Sericon Fund

Posted: 7 December 2016

Ubi Bank sold the former headquarters of Banca Popolare Commercio e Industria, located in via Moscova 33 in Milan, to the property fund SeriCon Investment Fund, managed by Savills Investment Management SGR.

The deal is part of the development strategy of the real estate assets of the banking Group, to make resources available for activities with higher value added. It entails a capital gain of around €20 million.

The property sold is a historical building, also known as the Cortile della Seta (or Silk Courtyard).