Redevelopment into a carbon-neutral grade A office building
Porta Nuova is a vacant office building in an excellent location in Milan, along one of the major transport links between the historic city center and Porta Nuova CBD. It will be retrofitted into a high-quality, 17,600 sqm core office complex across two buildings.
The asset will be fully redeveloped into a carbon-neutral grade A office building. It forms part of a large-scale asset management and redevelopment program by Allianz Real Estate in Italy and across Europe, aimed at creating best-in-class buildings that offer an ideal work-live-play balance and incorporate leading ESG profiles.
The asset will be EU taxonomy compliant, as well as qualify as a Nearly Zero-Energy building as per the European Commission.
This asset redevelopment counts amongst the most ambitious projects in Europe.
|Asset name||Porta Nuova|
|Investment structure||Directly held|
|Sustainability||On completion, the Porta Nuova asset is expected to obtain LEED Platinum and WELL Gold certifications. It will be EU taxonomy compliant and qualify as a Nearly Zero-Energy Building as defined by the European Commission. The asset will also meet Carbon Risk Real Estate Monitor (CRREM) sustainability standards.|
|Investment||EUR 143 million|