Prelios SGR, through Fondo Immobiliare primo RE, welcomes WeDo Holding and Arrital: lease signed on 52% of the building in Corso Europa 22, Milan

Prelios SGR S.p.A., the Prelios Group asset manager, has finalized four important lease agreements for the building in Corso Europa 22, Milan, designed in the 1950s by architect Vico Magistretti. The agreements, drawn up through Fondo Immobiliare primo RE, a fund held entirely by the Cassa dei Dottori Commercialisti (CDC) public accountants fund, raise occupancy in the building to 90%.

Two of the new leases, relating to 52% of the space in the property, have been signed with WeDo Holding and Arrital, whose presence will raise the building's profile and appeal.

Prelios SGR: one of Italy's leading managers of alternative property and securities investment funds.

With this operation, and the additional leases signed with a law firm and a financial trader for premises on the fifth and sixth floors, Prelios SGR has reached 90% occupancy in the building, owned since August 2018 by Fondo Immobiliare Primo RE, which has carried out a refurbishment and repositioning project on the asset over the last two years. The upgrade includes the installation of energy-efficient glazing and new plant to improve the building's performance, confirming Prelios SGR's close attention to sustainability issues in its management of the fund and its constant commitment to the functional management and optimization of its property portfolio.

WeDo Holding: a leader in high-end furnishings

WeDo Holding, a Padua-based group with 12 companies (including the parent) active in the residential, office & healthcare and contract sectors, will occupy 52% of the building, specifically the ground floor, the first floor and the basement with the new Flagship of its Arrital brand, and floors 7 and 8 with its management offices. The operation is a fundamental step in the growth strategy of the Group, which has built a reputation for high-end trademarks and branded products and for integration with the design-to-build world through high-value-added services.

Arrital: innovative kitchen and living design

Arrital, a brand of the WeDo Holding S.p.A. group, will play a key role in the innovative new multitasking design space. The project concept was awarded to AMDL CIRCLE, an international architectural practice founded by Michele De Lucchi, who have created a forward-looking project embracing design concepts open to technology, nature and well-being, the synthesis and essence of sustainability and design. Arrital's investment for more than 2.5 million euro in a space of 700 sq.m on the ground floor, first floor and basement, is seen as a strategic format to accommodate major international connection, communication and business opportunities, a stage for exhibitions, interaction with other players and high-class events. The lease will provide Arrital with a unique opportunity to address a wider public and contribute to the enhancement of an historic building.

Nicola Sajeva, Asset & Development Management Director at Prelios SGR, commented: "We are very pleased to have completed this project, which optimizes the Fondo Immobiliare primo RE real estate portfolio with targeted upgrades, which are also based on an ESG approach, and investments that raise the appeal of the asset to attract tenants of premier standing. The handover and inauguration of the commercial slab, and the leasing of some of the premises for office use, are an important result that raises the value of the property and confirms the fund's strategic focus on consolidating and improving its earning profile."

Silvia Quaglia, president of Arrital and a board member of WeDo Holding, said: "The lease is an important step in the growth path our Group has set out on. The new Milan location will be a prestigious showcase for us to present our business model and international development strategy in greater detail to our stakeholders and shareholders. This is a strategic orientation that considers the home, workplaces, social venues, healthcare and wellness centers as a whole, as references for the supply of design and furnishing solutions and services. Integration with the design-to-build sector from a sustainability perspective will allow us to operate across the board, bringing innovation, efficiency, services, and new technologies together on an organizational and skills platform that is unique on the market."

Arrital General Manager Christian Dal Bo said: "We are excited to have the opportunity to expand Arrital's presence in Corso Europa 22, one of Milan's most iconic buildings, designed by architect Vico Magistretti in the 1950s, and to share our brand idea in an exclusive concept developed by Michele De Lucchi's AMDL CIRCLE firm. This evocative physical space is an important step for Arrital, one that will enable us to reach a broader public and help raise the profile of an historic building. We believe the location will become a point of reference for the design community and people looking for top-quality furnishing solutions. Moreover, Prelios SGR's commitment to sustainability and attention to ESG topics is in line with our own values and goals, making this operation not only a commercial success, but a step toward a more sustainable future."

The lease with the WeDo Holding Group was drawn up with the assistance of Realty Lab S.r.l., which acted as advisor, and international law firm Ashurst LLP, which handled legal questions together with BLV - Belvedere & Partners for administrative matters. The project was developed by the Asti Architetti firm and executed with the support of Avalon Technical Services S.r.l. as Project Manager for subcontractor EXA MP S.r.l.

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