Allianz buys Milan asset from Blackstone for €200m

Allianz Real Estate has acquired an office building in Via Solferino, in Milan’s central Brera district for €200 million ($217 million), according to Italian media outlets.

Tenants of the office building, which covers more than 34,000 square meters (365,973 square feet), include WeWork, state-owned investment bank CdP, and Italian bank UBI Banca.

It will remain part of Delphine, the real estate fund managed by Kryalos, Blackstone’s partner in Italy, as Allianz has bought shares in the fund.