Allianz Real Estate has further expanded its footprint in the Italian market with a €200m investment to buy an office asset in Rome.

The manager, on behalf of several Allianz group companies, said it has agreed to buy the Arte 25 multi-tenant office complex from Omega Fund, a property fund managed by DeA Capital Real Estate.

Arte 25 is arranged over 12 floors and has 30,828sqm in gross lettable area and is almost fully-let to a diversified tenancy base.

Allianz, which recently acquired a €140m Milan office asset in a sale-and-leaseback agreement with Crédit Agricole Italia, said it expects to further expand its Italian portfolio through the acquisitions of prime assets in Milan and Rome alongside out-of-town logistics facilities and select investments in alternative asset classes.

Donato Saponara, head of transactions for west Europe and country head of Italy, Allianz Real Estate, said:”This transaction confirms our interest on prime office assets in the Italian Market.

“It represents a rare opportunity to acquire what we see as the very best office asset in Rome.”

Alexander Gebauer, CEO for West Europe, Allianz Real Estate, said: “We have developed excellent momentum in the Italian market and continue to focus on the very highest quality redevelopments and acquisitions to deliver exceptional outcomes for all stakeholders.

“Innovation, sustainability and important tenant-use aspects are key to our approach as we grow our presence throughout gateway cities in Europe.”

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