Press release

Commerz Real repositions office building near Milan with co-working provider Copernico

• New service concept for tenants and guests
• 2,000 square metres leased to Copernico
• Modernisation to be completed by mid-2019

Commerz Real intends, together with the Italian office space provider Copernico, to reposition its office building “Le Quattro Porte” in Segrate near Milan and augment it with a co-working concept. Copernico offers flexible rental of workspace to corporations, freelancers, start-ups and other professionals on the basis of a pay-per-use model. In the meantime, according to the company there are more than 5,000 workspaces available at 12 workspaces in Italy and Belgium. Copernico has leased 500 square metres of office space in “Le Quattro Porte”, as well as 1,500 square metres on the basement floor for conference rooms, event locations and an auditorium. It is intended that these areas can be used by both the tenants and other companies. To this end Commerz Real is currently conducting extensive modernisation of the ensemble of buildings, which was constructed in 2004, to create a multitenant campus with public areas. This modernisation is to be completed by mid-2019.

Through the cooperation with Copernico we are creating flexible office and co-working solutions with an extensive range of services in a modern and creative working environment. In this manner the property will be of interest to totally new user groups, for example companies from the IT sector, which can profit from the interaction with the existing tenant IBM.

Jens Böhnlein, Global Head of Office and Industrial at Commerz Real

The office areas can also be leased for very short periods in the future. Moreover, in the framework of the cooperation the booking of rooms and services such as a laundry facility will take place at a central reception area in the modernised entrance lobby. Copernico will be responsible for these services and also the management of a public café. In addition there will be a refurbished restaurant for some 2,500 guests managed by the canteen operator Sodexo.

The office property has a total leasable area of 34,500 square metres and is part of the portfolio of the Commerz Real open-ended real estate fund hausInvest. The Milan-based real estate company Europa Risorse acted as a mediator in the leasing to Copernico.

Commerz Real currently manages a real estate portfolio in Italy comprising four office properties and a shopping centre with a total value of approx. 790 million euros.