Kryalos Transfers Prestigious Milan Property to Fabrica Immobiliare
Deal News | Mar 19, 2025 | Finance Community IT - 3 Private Equity
Kryalos SGR has successfully transferred a prime real estate asset in Via Principe Amedeo, Milan, from its Thesaurus Fund to Fabrica Immobiliare’s Cicerone Fund. Managed by Kryalos, the Thesaurus Fund is backed by Blackstone, whereas the Cicerone Fund is fully subscribed by Cassa Forense. This prestigious office property covers over 10,000 square meters, spread over five floors and a basement, and meets high sustainability standards, being certified LEED Gold and BREEAM In-Use Excellent. Legal support for the transaction was provided to Kryalos by DLA Piper, and tax and technical advice by EY, while Fabrica was advised by Curtis, Mallet-Prevost, Colt & Mosle LLP, with Yard Reaas providing technical and ESG counsel. The property, located in the heart of Milan's Central Business District, is entirely leased to top-tier tenants and is considered a prime asset within Milan's real estate market. This transaction underscores the liquidity and attractiveness of high-quality office assets, reaffirmed by robust market fundamentals, as noted by the CEOs of both Kryalos and Fabrica.
Sectors
- Real Estate
- Private Equity
- Legal Services
Geography
- Italy – The transaction involves a property located in Milan, Italy, and is carried out by Italian private equity firms.
- Milan – The property involved is situated in Milan's Central Business District, emphasizing the city's importance as a hub for real estate investments.
Industry
- Real Estate – The article discusses a transaction involving prime real estate in Milan, highlighting the significance of high-quality office spaces in the market.
- Private Equity – The transaction involves funds managed by private equity firms Kryalos SGR and Fabrica Immobiliare SGR, illustrating the role of private equity in real estate investments.
- Legal Services – Multiple legal firms were involved in advising on the transaction, showcasing the role of legal expertise in M&A activities.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kryalos SGR | Selling Company | Company | Kryalos SGR is the private equity firm managing the Thesaurus Fund, which sold the property. |
| Fabrica Immobiliare SGR | Purchasing Company | Company | Fabrica Immobiliare SGR is the private equity firm managing the Cicerone Fund, which purchased the property. |
| Blackstone | Investor in Thesaurus Fund | Company | Blackstone is a global private equity firm and an investor in the Thesaurus Fund managed by Kryalos. |
| Cassa Forense | Investor in Cicerone Fund | Company | Cassa Forense is the entity fully subscribing to the Cicerone Fund managed by Fabrica Immobiliare. |
| DLA Piper | Legal Advisor to Kryalos | Company | DLA Piper provided legal advice to Kryalos SGR during the transaction. |
| EY | Tax and Technical Advisor to Kryalos | Company | EY offered tax and technical advisory services to Kryalos in the transaction. |
| Curtis, Mallet-Prevost, Colt & Mosle LLP | Legal Advisor to Fabrica | Company | Curtis, Mallet-Prevost, Colt & Mosle LLP provided legal advice to Fabrica Immobiliare during the transaction. |
| Yard Reaas | Technical and ESG Advisor to Fabrica | Company | Yard Reaas advised Fabrica Immobiliare on technical and ESG matters related to the acquisition. |
| DILS | Intermediary | Company | DILS acted as an intermediary in the transaction between Kryalos and Fabrica. |