Invesco acquires historic office building in Milan

Invesco Real Estate has acquired a historic 9,400-square-meter (101,180-square-foot) office building in Italy.

A purchase price was not disclosed.

The asset, known as Palazzo Turati, is located at Via Meravigli 7 in the heart of Milan’s CBD, neighboring the Milan Stock Exchange and several global blue-chip corporates.

Invesco said the seven-story Palazzo Turati comprises large floor plates of 1,600 square meters (17,222 square feet), a large roof terrace and one underground level. The asset also benefits from an impressive historical facade and a 600-square-meter (6,458-square-foot) space on the first floor with frescos, boiserie, roof decoration and precious paintings. 

The building is fully let to Milan Chamber of Commerce and related entities, which have occupied the site since 1954. 

“Via Meravigli 7 is an exceptionally well-located cornerstone asset in