Global alternative asset manager Carlyle has acquired a mixed-use property located in the centre of Milan from insurance company Milano Assicurazioni. Financial terms were not disclosed. Built in 1938, the building comprises a total area of 15,000 m2 over eight floors of residential, office and commercial space. It is located at Piazza Santa Maria Beltrade 1, at the corner of Via Torino and a few steps from Piazza Duomo, is earmarked for Real Estate SGR, the Italian-based real estate investment arm of The Carlyle Group. "This transaction confirms Carlyle's strong interest in the Italian market, and Milan in particula,"' said Valeria Falcone, managing director and head of Carlyle's Italian Real Estate team. "The building is in line with The Carlyle Group’s investment criteria, and we believe that our specialist team of asset managers will be able to maximize the value of the property through active management initiatives, to create a strong return for our investors." (PEU)
Carlyle acquires central Milan asset
26/07/2012, 09:29 | Milano | The Carlyle Group, Falcone Valeria
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