BNP Paribas Real Estate Investment Management sold an office building of 14,942 m² in Milan on behalf of Next Estate Income Fund managed by BNP Paribas REIM Luxembourg to Aviva Investors Real Estate France.
The building is located in the Bicocca district in Milan. This area has benefited from an ambitious scheme to refurbish the former Pirelli factories to become one of the main service districts of Milan. This building was constructed in 2009 and has a “BREEAM in Use Very Good“ certificate. It has been entirely let to Pirelli Tyre since its completion.
For Laurent BOISSIN Fund Advisor of NEIF “This latest disposal confirms the pertinence of the NEIF fund’s strategy and secures the fund’s long-term performance”.
Next Estate Income Fund was advised by the JLL as part of an exclusive sales mandate.