MILAN – 17 March 2022 – Aermont Capital announced that an affiliated fund has acquired all units of an Italian real estate alternative investment fund (the Fund) that owns two Milan properties, viale Piero e Alberto Pirelli 10 and viale Monte Grappa 12, from entities owned by Allianz. Simultaneously, a non-conditional binding agreement was executed to acquire viale dell’Innovazione 3, adjacent to Pirelli 10, from Covivio S.A.
Kervis SGR S.p.A. has been appointed manager of the Fund, which will be renamed Fondo Innovazione.
Pirelli 10 is a 29,000 sqm office building that is currently vacant. Innovazione 3 is a 28,000 sqm office building that is currently partly let. The adjacent buildings form an entire block strategically located at the heart of Bicocca, an area of Milan that is home to leading international tenants and investors. Kervis SGR and Aermont plan to redevelop the buildings into Grade A state-of-the art office space with high ESG credentials.
Monte Grappa 12 is a 65-room hotel let to NH Italia S.p.A., which is ideally situated in Milan’s vibrant Porta Nuova.
Aermont was advised by Greenberg Traurig Santa Maria with a team composed of partner Marzio Longo, senior associate Paolo Bolis, associate Mara Penasa, and trainees Fabrizio Fato and Camilla Picedi Benettini.