246.7 million. This is the figure with which Mediobanca was awarded the iconic Palazzo Broggi in Piazza Cordusio in Milan, the former headquarters of the Stock Exchange, which was then transformed into the headquarters of Poste Italiane from 1998 to 2011. And, today, home to Starbucks.
The prestigious building then goes to a club deal of investors from Mediobanca’s private banking division and thus passes from the Pacific 1 Alternative Real Estate Investment Fund to the Milan Trophy RE Fund 3 Alternative Real Estate Investment Fund.
An operation, said Angelo Viganò, Head of Mediobanca Private Banking, with which it is renewed “the commitment to identify and create investment solutions in the real economy».
The sale of the asset took place at the end of a “beauty contest” which involved the main national and international market operators and which ended on 23 October with the granting of an exclusive period to Mediobanca by Kryalos Sgr.
Located in that Piazza Cordusio, the center of the Milanese financial district, the building was completely renovated between 2015 and 2018, thanks to an investment of around 23 million.
When in 2018, the large American roasting chain Starbucks has decided to open its first store in Italyas well as Europe’s first Starbucks Reserve Roastery, has chosen Palazzo Broggi. Among the other tenants there are offices JP Morgan, Natwest and Kryalos Sgr itself.