Inarcassa has bought two office assets in Milan from Generali Real Estate.
The Italian pension fund paid €83m ($89.9m) for the buildings in the city’s Viale Jenner and Via Tiziano.
The properties were sold by Generali on behalf of its funds for around €43m and €40m, respectively.
The buildings will be added to the fund’s Comparto Uno del Fondo vehicle, which holds around €350m of office assets in Milan, Rome, Turin and Palermo.
Inarcassa, the scheme for self-employed architects and engineers, uses Fabrica Immobiliare for its Italian property investment activity.
The Rome-based fund made its first overseas real estate investments via a mandate with LaSalle Investment Management late last year.
Investments totalling €85m were made in global unlisted real estate funds – the fund’s first abroad.
LaSalle is focusing on ‘core’ and ‘core-plus’ strategies for Inarcassa.
