Dils advisor in the sale of a retail asset to Prelios SGR at Corso Matteotti 5 in Milan

Dils acted as an advisor in the sale to Prelios SGR – through the Fondo Immobiliare primo RE – of a retail asset located at Corso Matteotti 5 in Milan. This deal follows the one in 2020 where Dils had already been an advisor to Prelios SGR in the sale of the upper portion designated for office use, contributing thus to the reconsolidation of the ownership of the entire building and to the value creation journey undertaken by the Fund.

The two commercial spaces, entirely leased to two leading companies in the luxury apparel and travel gear industry, have a gross area of approximately 800 sqm spread over the ground floor, mezzanine, and basement. The asset, characterized by large windows that extend beneath an elegant portico between Corso Matteotti and Via San Pietro all’Orto, is strategically positioned in the heart of the Quadrilatero della Moda.

The retail space involved in the transaction represents the commercial foundation of the trophy asset designed in the mid-1930s by the architect Emilio Lancia, featuring marble facades and an elegant, rigorous design. The recent renovation has preserved its historicity while modernizing it to meet the criteria of internal space functionality and energy efficiency.

This operation reaffirms the importance of the High Street Retail asset class in real estate enhancement processes in prestigious urban locations, through a mix of functions and innovative formats aimed at ensuring long-term attractiveness. Mixed-use assets have indeed constituted some of the most iconic deals in recent years nationwide, particularly in Milan, with investments exceeding one billion euros since 2020.