New Ardian and Prelios fund buys Milan office

Private global investor Ardian Real Estate and real estate management firm Prelios SGR have teamed up to purchase an office building in Milan, Italy.

Financial details were not disclosed.

Located in via Roncaglia 12 – 14, near to the city centre, the property comprises 9,300 m2. The new owners intend to undertake a full refurbishment of the asset, which was built in the 1960s.

The vendor was Sator Immobiliare SGR.

Ardian and Prelios made the acquisition via a new property fund, a fixed-capital investment company (SICAF). It is owned by Ardian, managed by Prelios and is the first SICAF which the Bank of Italy has authorised.

Rodolfo Petrosino, managing director at Ardian Real Estate, said: ‘The SICAF is a new investment tool that we are the first to offer our investors and thanks to which we can continue to select the best opportunities in the core plus-value added segment on the market.’

Andrea Cornetti, general manager of Prelios SGR, said: ‘This initiative strengthens the relationship with Ardian, one of the main players in the European market. With this transaction, Prelios SGR confirms its pioneering role in the range of investment products managed, and its leadership in the management of innovative products dedicated to leading institutional investors.’

The property is the second which Ardian has acquired in Milan and its seventh in Italy. The company has €96 mln AUM worldwide.

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