(Visited 165 times, 1 visits today)
(Visited 165 times, 1 visits today)
  • Transaction / Assets
    building in Milan
  • Seller
    Pio Albergo Trivulzio
  • Buyer
    Ignotus Srl
  • € MM

Milan, another property of Trivulzio sold for 3.8 million

16 February, La Repubblica

Pat (Pio Albergo Trivulzio) made a profit of 3.8 million euro, an amount the will replenish its finances. Another jewel has been sold by Trivulzio: an entire building in Via Alfieri 17, the most famous retirement home in Italy, that the company tried to sell last year without success. This time it managed.

The building, for a surface of 929 Sq m, has been bought by the family Marzotto through Ignotus Srl, a special purpose company created by Guillaume Desforges, son of Dominique Marzotto and nephew of Paolo Marzotto. Ignotus obtained the building thanks to a negotiation started last autumn after the first auction was inquorate. This is the second jewel owned by Trivulzio to be bought by companies operating in the fashion and textile sectors. One year and a half ago, Trivulzio sold another building in Corso Porta Romana 91 to the Prada family.

The building in Via Alfieri has a century worth of history. Located in the heart of the Chinatown, a few steps away from Arco della Pace, the building is dated back to 1920es. It was inherited in 70es by the orphanage Martinetti, that belong to Trivulzio, and by Casa Verdi. The share of this latter was acquired by Martinitt, which became then the sole owner.

The sale is a crucial operation for the General Director Carlo Sileo and the president Maurizio Carrara. In fact, the transaction brings some more fresh air to the finances, after some other important sales in the past few years regarding the buildings in Porta Romana and in Via della Spiga 5, sold for 37 million euro in 2016. Not only: the vacant properties or those that are leased but give little income represent for Trivulzio, that owns lands and houses for assets valued around 400 million, more a source of costs (considering taxes and maintenance costs) than a source of income. For this reason, the current management is trying to get an income from these properties, by renting them at higher prices or selling them, in order to be aligned with the current market situation.

It’s not by chance that the building in Via Alfieri is not the only prime property that Trivulzio has put on the market. There is also the property in Via Santa Maria, just behind Carrobbio. It’s valued around 17 million and it was put on the market already twice, the second time with a 20% discount, but it hasn’t sold so far. The villa in Via Gaetano Previati, in the Fiera area, shares the same destiny: it was put on the market for 1.2 million euro and the auction in November was inquorate. Now Trivulzio is trying to sell it again with a 20% discount and for the price of 981 thousand euro.

Source: La Repubblica

Translator: Cristina Ambrosi

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