Italian listed property firm Beni Stabili said on Thursday it has agreed to sell a building located in the centre of Milan to a private investor for EUR 120mln. The book value of the property at end-2007 was EUR 100mln, the company said in a statement. The office building, which is currently vacant, was fully-let until the end of April to bank Intesa Sanpaolo with a 3.06% yield. The closing of the transaction is expected for the end of 2008.
Italian listed property firm Beni Stabili said on Thursday it has agreed to sell a building located in the centre of Milan to a private investor for EUR 120mln. The book value of the property at end-2007 was EUR 100mln, the company said in a statement. The office building, which is currently vacant, was fully-let until the end of April to bank Intesa Sanpaolo with a 3.06% yield. The closing of the transaction is expected for the end of 2008.
In a statement, Beni Stabili said it has carried out EUR 245mln of disposals this year with a capital gain of EUR 53.5 mln. The company has sold eleven assets across Italy, with four properties located in Milan, one in Rome and one in Venice.
