BNP Paribas REIM has sold a significant portfolio of fifteen retail and office properties, with a total area of about 95,000 m2, located in key Italian cities, to DeA Capital for €90 mln.
The retail component comprises ten assets that have a total area of about 58,000 m2, half of which is entirely leased to an important German retail chain specialising in electronics and in consumer electrical devices.
Two of the retail properties are located in Milan, two in Marcon (Venice), and one each in Cinisello Balsamo (Milan), Parma, Brescia, Erbusco (Brescia), Ferrara and San Giuliano Milanese.
The office portfolio includes five buildings covering about 37,000 m2 in total, that house the offices of major Italian and international companies. Four of these properties are located in Milan, with one in Rome.
According to advisor Dils, the deal confirms the trends observed at the beginning of the year for the office and retail asset classes in Italy.
Dils data finds that in the first quarter of 2022, offices became once again the favoured asset type in Italy, successfully attracting €1.3 bn of investment, four times more than the amount recorded in the first quarter of 2021.
The retail sector’s investment volume also increased to €183 mln, twice that of the same period of the previous year.
Dils acted as advisor to BNP Paribas REIM in the transaction.
