Barings acquires office building in Milan

Barings has acquired an office building in Milan's Central Business District (CBD) through an Italian real estate fund managed by Savills IM. 

Offices - Barings

The acquisition, made on behalf of a European value-add strategy, was completed with a prime institutional investor.
The property, located at Tazzoli 6, is situated in a prime location on the edge of the Porta Nuova CBD district, Milan's most desirable office submarket, which is characterized by strong demand and limited availability. It benefits from excellent accessibility, being directly connected to Porta Nuova and the "Garibaldi" train and metro station (green line), as well as being within walking distance of the "Monumentale" metro station (lilac line).
Tazzoli 6 has a gross surface area of 11,000 m2, comprising seven floors above ground and two below. It includes around 72 covered parking spaces and a private internal courtyard. The asset is partially leased, presenting an opportunity for redevelopment to a Grade A standard with ESG credentials, targeting a minimum LEED Gold certification.
Marco Corti, managing director and country head Italy at Barings Real Estate, said: “This is our 7th overall office acquisition in Milan and the 2nd in this area, all being refurbishments of existing stock. Office take-up in Milan has been stable over the past few years, with strong rental growth being driven in part by a limited supply, creating strong opportunities for top-quality assets with ESG credentials in prime locations. Offices in city centre locations, with value creation angles, remain an attractive asset class for us and we will continue to look for and invest in similar opportunities in the future.”
Gunther Deutsch, managing director and head of Transactions Europe at Barings Real Estate, added: “This is an important office acquisition for us and in early 2026 we are planning to invest into one other asset in one of Europe´s capitals, in a prime CBD location. We do see core+ and value add opportunities arising in CBD locations across Europe, which we like to look at as the office sector remains a key focus for us, alongside the logistics and living sectors, and we will continue to look for similar acquisitions in our jurisdictions, the Nordics, the Netherlands, Germany, UK, Italy, France and Spain.”