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

The Valesco Group, a European property fund manager based in London, has completed a majority investment in the brand-new headquarters of the luxury fashion brand Moncler SA in Milan, developed by Covivio SA. The transaction – which was announced at the end of 2024 – is worth around €200 million and is the largest in Italia’s office sector in the last three years; it was partially financed by a €80 million ‘green’ loan provided by BNP Paribas.

Moncler SA – founded in 1952 and with a market capitalisation of 15 billion euros – has signed a 15-year, inflation-indexed lease with no breaks. Following the official opening of the campus in October 2025, Casa Moncler will bring together over 700 Moncler employees previously spread across three locations in Milan, consolidating all creative, corporate and commercial functions into a single strategic headquarters.

With a floor area of approximately 38,000 square metres of Grade A+ space, the campus sets a new benchmark for comfort, featuring a 600-square-metre gym on the ground floor, a variety of restaurants and a modular, double-height, multi-purpose 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 a repurposed industrial chimney for bioclimatic air circulation. Its construction prioritises energy efficiency, natural materials and indoor air quality, reflecting the key ESG practices required by high-profile occupants.

The multi-year financing arrangement with BNP Paribas – as explained in a statement from Valesco – has been agreed on favourable terms, including a lending margin at an all-time low for the commercial property market in Milan. The loan reflects the strong confidence of lenders in the asset’s excellent property fundamentals, including its future-proof design, its ESG profile, the covenant with tenants, and institutional investors’ continued appetite for exposure to mission-critical offices well-located in Europe’s most dynamic markets.

This transaction is the latest in a series of senior financing and refinancing deals that Valesco has completed to support the growth of its high-quality, pan-European office platform, which is continuously expanding and has a capital base of approximately 3 billion euros. Over the past two years, Valesco has completed financing and refinancing transactions totalling over €1 billion with 12 leading European banks.