This is really weird and funny. Lendlease Global Commercial REIT ("LREIT") announced on 18th December 2023 that it will be restructuring its long term Milan office lease of Sky Complex with Sky Italia in order to "reduce tenant concentration risk".  I find the header of the announcement extremely misleading and giving the impression that LREIT is the party which decided to review and downsize the major tenant, Sky Italia, on its own initiative. There are many ways to reduce tenant concentration risk such as embarking on future M&A to further reduce the impact of Sky Italia as a major tenant. Chasing after existing tenant to vacate office by a landlord to "reduce tenant concentration risk" when the lease has not expired is virtually unheard of in the market. The only plausible explanation is that the tenant must have approached the management of LREIT to re-negotiate a package deal for reduced footprint since the tenant does indeed hold an option to...