Valesco completes purchase of Casa Moncler for 200 million (and an 80 million green loan)

The Valesco Group, a London-based European real estate fund manager, has completed the majority investment in the brand new headquarters of luxury fashion brand Moncler SA in Milan, developed by Covivio SA. The transaction - which had been announced at the end of 2024 - of around EUR 200m is the largest in the office sector in Italy in the last three years and was partially financed with an EUR 80m 'green' loan provided by Bnp Paribas.

Moncler SA - founded in 1952 and with a market capitalisation of 15 billion euros - has signed an inflation-linked 15-year lease with no breaks. After the official opening of the campus in October 2025, Casa Moncler will bring together more than 700 Moncler employees previously located in three Milan locations, consolidating all creative, corporate and commercial functions in one strategic headquarters.

With an area of approximately 38,000 square metres of Grade A+, the campus offers a new benchmark in terms of amenities, including a 600 square metre gymnasium on the ground floor, a variety of restaurants and a multifunctional double-height modular auditorium for exhibitions and fashion events. Aiming to achieve Leed Platinum and Well certifications, it boasts advanced sustainability features such as photovoltaic panels, rainwater harvesting systems and an upgraded industrial chimney for bioclimatic air circulation. Its construction prioritises energy efficiency, natural materials and indoor air quality, reflecting key ESG practices required by high-end occupants.

The multi-year financing with Bnp Paribas," explains a Valesco note, "was agreed on advantageous terms, including a lending margin at an all-time low for the Milan commercial real estate market. The financing reflects the lenders' strong appetite for the asset's excellent real estate fundamentals, including its future-proof design, its ESG profile, its covenant with tenants, and institutional investors' continued appetite for exposure to mission-critical offices well positioned in Europe's most dynamic markets.

The transaction represents the latest in a series of senior financings and refinancings that Valesco has completed to support the growth of its growing, high quality, pan-European office platform with capital of approximately EUR 3 billion. Over the past two years, Valesco has completed financing and refinancing of more than EUR 1 billion with 12 top European lenders.