Italy's Milanofiori, a unit of property developer Brioschi Sviluppo Immobiliare, has signed a preliminary agreement to sell a 8,000 m[sup]2[/sup] office scheme in Assago, near Milan, to Ubi Leasing for a total of EUR 32 mln, excluding taxes. The operation is expected to be completed by the end of September 2009.
Italy's Milanofiori, a unit of property developer Brioschi Sviluppo Immobiliare, has signed a preliminary agreement to sell a 8,000 m2 office scheme in Assago, near Milan, to Ubi Leasing for a total of EUR 32 mln, excluding taxes. The operation is expected to be completed by the end of September 2009.
The complex, which also includes 103 parking spaces, will be entirely leased to Milano Serravalle which will use it as its main office.
In a separate transaction, Serravalle has agreed to sell its former head office in Assago to Milanofiori for EUR 8 mln, excluding taxes. The transaction is expected to be completed by March 2010. Milanofiori was advised by law firm Lombardi Molinari e Associati.
