AC Milan have sold Casa Milan to a real estate company less than a year after Elliott Management decided to buy the property, according toa report.
As Calcio e Finanza reports, Sector One of the Inarcassa RE Fund – a real estate fund managed by Fabrica SGR and fully subscribed by Inarcassa (National Insurance and Assistance Fund for Freelance Engineers and Architects) – acquired Casa Milan from the Rossoneri.
The building houses the Mondo Milan Museum, the Milan Store, the ticket office and Casa Milan Bistrot and was purchased from Vittoria Assicurazioni for ‘a consideration of €41,919,000’ which was well below the actual price market value of the property.
That is why during 2021 Milan evaluated various opportunities, up to striking an agreement with the Inarcassa RE Fund. The sale translates into an important financial contribution, equal to about €20m, as per the report.
The club’s headquarters will continue to be housed in the building and the Mondo Milan Museum, Milan Store, ticket office and Casa Milan Bistrot will obviously remain open, while Milan plan on continuing to invest in the building as seen in the recent Milan Media House project.