Milan, February 17, 2026 – CBRE has officially been appointed as the property manager for Torre Velasca, an iconic structure that defines the skyline of Milan. This mandate was granted by the HEVF Milan 1 Fund, which is subscribed by Hines European Value Fund (HEVF) and managed by Prelios SGR, with Hines Italy serving as the development manager.
Consolidating Partnerships and Market Presence
This appointment further solidifies the existing partnership between the involved companies and enhances CBRE’s standing within the Italian real estate market. The addition of Torre Velasca to its portfolio represents a significant acquisition, given the building’s representative status within the city.
Torre Velasca, spanning 24,000 square meters, is a prominent symbol of Milanese architecture. Designed by BBPR architects and completed in 1958, the building recently underwent a comprehensive conservative restoration, which also encompassed the surrounding Piazza Velasca. The restoration work concluded in May 2025.
A Multifunctional and Sustainable Landmark
The building boasts a diverse range of uses, accommodating offices, retail spaces, restaurants, and residences. Furthermore, Torre Velasca incorporates significant ESG (Environmental, Social, and Governance) features, holding LEED Gold and WiredScore Silver certifications for digital connectivity. Its strategic location at Piazza Velasca 5 ensures excellent accessibility and attractiveness.
The Significance of Torre Velasca
Torre Velasca is more than just a building; it’s a piece of Milan’s history and a testament to its architectural innovation. Its recent restoration has breathed new life into the structure, ensuring its continued relevance and appeal. The property management by CBRE is expected to maintain and enhance the building’s prestige and operational efficiency.
Looking Ahead
The collaboration between CBRE, Hines, and Prelios SGR for Torre Velasca underscores a shared commitment to excellence in property management and a focus on sustainable, high-quality real estate assets in Italy. This move is anticipated to further strengthen Milan’s position as a key hub for real estate investment and development in Europe.
