Realty Lab, the new real estate brokerage firm founded by Pirelli RE's former director Roberto Nicosia and GE RE Italy's former CEO Alessandro Manetti, has been mandated by AXA REIM's European Office Income Venture (EOIV) to sell a 30,000 m[sup]2[/sup] office complex in Milan.
Realty Lab, the new real estate brokerage firm founded by Pirelli RE's former director Roberto Nicosia and GE RE Italy's former CEO Alessandro Manetti, has been mandated by AXA REIM's European Office Income Venture (EOIV) to sell a 30,000 m2 office complex in Milan.
Located in the Western semi-central area of Milan, the property was designed in the mid-1990s by architect Giò Ponti and is valued at around EUR 50 mln. The complex consists of three adjoining buildings and is fully let at market values, housing the Italian headquarters of three major international companies.
'Thanks to a stable cash flow, secured over the next five years at least, the investment opportunity could be targeted by a medium or large core dund,' Realty Lab said, adding that core investment opportunities are currently scarce in the Milan office investment market.
