Santa Sofia

The sole tenant of two ageing office properties in the Santa Sofia district of Milan, Corso Italia 23 and the Santa Sofia building, had made the decision to vacate both units and to consolidate its resources into a purpose-built tower elsewhere in the city. PIMCO Prime Real Estate had already committed to transforming Corso Italia 23 into a modern campus while the city of Milan had begun work on the new Santa Sofia Metro station nearby. The district was becoming a destination. We saw the opportunity with the Santa Sofia building to diversify our client’s portfolio and meet the changing needs of the neighborhood which was becoming more focused on visitors. 

We decided to transform the former office building into a lifestyle luxury hotel destination that would meet the needs of high-end cosmopolitan and business clientele. Consequently, we would be contributing to the overall appeal and regeneration of the Santa Sofia area with a new landmark that would both attract and serve its visitors.. Securing Radisson Blue as our tenant and hotel operator early in the process removed both the letting and operational risk of the asset, while maintaining the existing façade hugely reduced the permitting risk and reduces the embedded carbon footprint of the project. Alongside that, we enhanced the sustainability of the property through the installation of photovoltaic panels and the deployment of brand new and highly efficient building equipment. The building has achieved LEED Gold certification and boasts an EPC-A+ energy rating.

We delivered the transformed asset to Radisson at the end of 2022, with the hotel opening in late spring of the following year. The project resulted in the establishment of a premier hotel property in Milan, Italy. The Radisson Collection Hotel Santa Sofia features 159 guest rooms, including suites, leisure and dining facilities with panoramic views, and events spaces for the local and international business communities and even a rooftop swimming pool for its residents. Its convenient location close to the new Santa Sofia M4 underground stop provides direct connectivity to the city center and Linate Airport. 

The repositioning of the office asset into a prestigious hotel has contributed to the further regeneration of the Santa Sofia area and enhanced the local community and surrounding neighborhood. It is now providing high-end facilities for its guests and contributing to the positioning of Santa Sofia as a rising central and attractive location.