The asset, with a GBA of approximately 8,200 sq m, has undergone a series of renovations over the latest 10 years, which have seen first the opening of the new Dsquared2 showroom and then the subsequent inauguration of the panoramic restaurant and fitness centre. The refurbishment has maintained the building's historic architectural features, transforming the property into one of Milan's most iconic building and popular addresses.
The asset remains fully occupied, through a long-term contract, by Dsquared2 and by the restaurant and fitness centre, which are also linked to the same fashion brand. The outstanding quality of the asset, combined with the stable and long-term tenant commitments, make this transaction one of the most significant core investments which have taken place in Milan in recent times.
Sara Ravagnani, Head of Capital Markets Offices, comments: “we are extremely proud to have successfully assisted Deka Immobilien in this transaction that confirms how asset fundamentals are even more important for core investors. Ceresio 7/9, with its attractive location, the quality and flexibility of the spaces and the strong tenant’s covenant, represents for sure a safe long-term investment”.