Kryalos SGR S.p.A. has completed the sale of the trophy asset Palazzo Cordusio in Milan, former headquarters of Poste Italiane, to a club deal of investors coordinated by Mediobanca for € 246.7 million.
The real estate Alternative Investment Fund Pacific 1, managed by Kryalos SGR, completed the sale to the real estate Alternative Investment Fund Milan Trophy RE Fund 3, subscribed by a club deal of investors from the Private Banking division of Mediobanca.
The building is today the headquarters of diversified, renowned and international tenants: Starbucks has chosen the historic building of Piazza Cordusio to open its first store in Italy in 2018, as well as the first Starbucks Reserve Roastery in Europe. Among the tenants occupying the office space are JP Morgan, Natwest and Kryalos SGR itself.
Vitale and Eastdil Secured acted as financial advisors to the seller.
IMAP closed 193 M&A transactions valued at over $7.0 billion in 2020, down from the 7 year high of 235 deals closed in 2019.
GMD holds 12 food retail stores in the Azorean Autonomous Region, on the São Miguel, Santa Maria and Pico islands, and 1 wholesale cash and carry store on São Miguel island.
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