ENPAIA and Generali sign agreement for 50% co-investment

Generali and Ente Nazionale di Previdenza degli addetti e degli impiegati in agricoltura (ENPAIA) have reached an agreement for the sale to ENPAIA of 50 percent of the shares of the Rubens real estate fund, managed by Generali Real Estate SGR and owner of the Tower Libeskind in Milan, with an operation worth more than €160 million ($190 million). The Generali Group will continue to hold 50 percent of the asset through the Generali Europe Income Holding Fund (GEIH) managed by Generali Real Estate SGR.

The building is also known as the PwC Tower and is nicknamed "The Curved One" due to its distinctive shape designed by Daniel Libeskind. With its 175 meters in height, 34 floors and 33,500-square-meters (360,600-square foot) surface area, the building is a unique and recognizable element in the Milan skyline.

The Libeskind Tower was completed in October 2020 and is fully let by the consulting firm PwC with a long-term lease contract.

Giorgio Piazza, chairman of EN