An operation that reinvigorates Milan’s real estate market, which has been declining since the beginning of the year. The transaction in question sees Campari as the buyer and Bnp Paribas Reim, an investment management company specializing in real estate and part of the Bnp Paribas Group, as the seller.

The real estate company has sold, on behalf of a managed real estate fund, an office building located at Corso Europa 2, a stone’s throw from Milan’s Duomo. Here, Campari will establish its headquarters. The transaction was completed for a sum of approximately 110 million euros, to which renovation costs are added. The building covers a total area of approximately 10,000 square meters, spread over nine above-ground floors and four underground floors. The building faces both Corso Europa and Via Larga. After the sale, the building will undergo renovation and modernization by the buyer, as it is currently divided into spaces previously rented to various Italian and international tenants.

Many of them have already left the building, including the Bpm branch, and soon Commerzbank and the Molteni store will follow suit. This will give rise to the new headquarters where Campari Group will move in 2027, as stated by the company. Currently, Campari’s headquarters is located in Sesto San Giovanni, in a complex designed by architect Mario Botta and inaugurated in 2009. Returning to the building on Corso Europa, it was purchased in 2016 by the real estate company of the banking group through the Fundamenta fund, paid 91 million euros at the time. The asset was sold by the Borromeo family, assisted in the operation by JLL Italia.

The Borromeo family remains active in the real estate sector also through Merope Asset Management, an investment and real estate development company founded and led by Pietro Croce, of which they hold 10%. “The sale of the asset on Corso Europa to an international and prestigious company like Campari demonstrates how Bnp Paribas Reim is able to offer high-level solutions in the active management of real estate investments,” commented Vincenzo Nocerino, CEO of Bnp Paribas Reim Italy at Sole24Ore. “It shows interest in a building with solid fundamentals and located in a strategic position in the center of Milan, the beating heart of a metropolis increasingly oriented towards Europe, essential characteristics for a property destined to host the headquarters of a large group.”