Global investment giant Barings has expanded its Italian portfolio with the purchase of a prominent office building in Milan. The firm acquired the Tazzoli 6 site from a leading institutional investor. This transaction was carried out through an Italian real estate fund managed by Savills IM SGR. The project is part of a value-add strategy focused on European markets.

The property is located on the edge of the Porta Nuova district, which is currently the most popular office location in the city. Spanning approximately 11,000 square metres, the building features seven floors above ground and two levels below. It also includes 72 covered parking spaces and a private courtyard. While the building is currently partially occupied, the new owners plan to refurbish it to a Grade A standard. A key part of this plan is to achieve a LEED Gold certification to ensure the building meets modern environmental requirements.

Accessibility is a major feature of the site. It sits on a main road with direct links to the Garibaldi train and metro station. The Monumentale metro station is also just a short walk away. This connectivity is expected to drive interest from future tenants in a market where quality space is hard to find.

Marco Corti, Managing Director and Country Head Italy at Barings Real Estate, said: “This is our seventh overall office acquisition in Milan and the second in this area, all being refurbishments of existing stock. Office take-up in Milan has been stable over the past few years, with strong rental growth being driven in part by a limited supply, creating strong opportunities for top quality assets with ESG credentials in prime locations. Offices in city centre locations, with value creation angles, remain an attractive asset class for us and we will continue to look for and invest in similar opportunities in the future.”

This deal is not the end of the firm’s expansion. Gunther Deutsch, Managing Director and Head of Transactions Europe at Barings Real Estate, said: “This is an important office acquisition for us and in early 2026 we are planning to invest into one other asset in one of Europe´s capitals, in a prime CBD location. We do see core+ and value add opportunities arising in CBD locations across Europe which we like to look at as the office sector remains a key focus for us, alongside the logistics and living sectors, and we will continue to look for similar acquisitions in our jurisdictions the Nordics, the Netherlands, Germany, UK, Italy, France and Spain.”