MEROPE Asset Management Rafforza il suo team d’investimento con l’ingresso del Principal Lorenzo Niccolini11 aprile 2019
MILAN, 29th of November 2019
Merope Asset Management, a real estate investment and development company founded and managed by the CEO Pietro Croce, has won a competitive procedure, managed by the advisor Mediobanca, for an asset located in Corso Venezia 56 in Milan, one of the most iconic of the city.
The company signed today the preliminary purchase&sale agreement with Banca Ifis for a total value of euros 50,5 million.
The office building, now occupied by Banca Ifis, includes 7 floors above ground and a basement for a total gross area of approximately 5,000 square meters plus a garden of over 1,000 square meters.
Merope Asset Management, whose investment team is led by Lorenzo Niccolini, will take care of the refurbishment of the asset. Banca Ifis will release the building by March 2021.
The deal is expected to be executed by March 2020.
Since its establishment in 2015, Merope managed real estate investments with a focus on Milan for a total value of approximately euros 400 million. The today’s acquisition follows other important investments in trophy assets located in the center of Milan, including the most recent Palazzo Bernasconi on Via Palestro 24 - currently under redevelopment - and the building located on Via della Spiga 5. These deals confirm Merope as a leading player in the real estate market of trophy asset in Milan.
Dentons acted as legal advisor for Merope; the firm Giancaspero&Carlucci handled the tax and corporate matters. BMS Progetti supported the company for the technical due diligence.