Italy's Fabrica Immobiliare has acquired a sustainable office in Milan on behalf of the pension fund for architects and engineers, Inarcassa RE Comparto Uno.
Financial details were not disclosed.
The vendor of the Project Forma complex, primarily used for office purposes, was the Virtus fund, a closed-end real estate fund backed by funds managed by Blackstone.
The asset is located in Milan's CBD, just a short walk from Piazza del Duomo and Piazza San Babila.
The property benefits from two entrances - from Via Verziere 11 and Via Cavalotti 14 - and underwent a major renovation which was completed in 2021.
The complex consists of two connected buildings; the first has nine floors above ground while the second has five floors above ground.
The building was awarded LEED Gold and BREEAM Excellent certifications, and features a distinctive and minimal design. Bright spaces with modern and refined interiors connect with outdoor spaces, including an inner courtyard, terraces, and a rooftop with wraparound views of Milan.
Dils advised on the sale.