Osborne Clarke advises on the sale to COIMA SGR S.p.A. of a prestigious office building in Milan

COIMA SGR S.p.A., a company active in the investment, development and management of real estate assets on behalf of institutional investors, has acquired a prestigious office building at Via Paleocapa 7, Milan for subsequent redevelopment and enhancement. The transaction was completed through COIMA ESG City Impact Fund, a discretionary urban regeneration investment fund with approximately €1 billion in equity capital.

The investment in the property is aimed at its redevelopment, including a possible conversion, and the improvement of its sustainability profile, including through the improved efficiency of its energy performance and the achievement of LEED and WiredScore certifications, subject to final verification by the certifying bodies. The investment planned for the acquisition and efficiency improvements amounts to approximately €100 million.

Designed in the 1940s by master architect Pietro Lingeri, the building is an example of typical Milanese rationalist elegance, combining historical aesthetic standards with contemporary efficiency. With a total area of approximately 13,500 square metres spread over nine floors, a ground floor, two basement levels and outdoor areas, Paleocapa 7 stands out for its bright, regular façade and a large courtyard in front of the entrance, which enriches it with a dedicated green area. The property has recently undergone redevelopment and offers modern, flexible and sustainable workspaces, all of which are currently leased.

Osborne Clarke assisted the seller with a team led by partners Simone Monesi and Benedetta Mussini.