Caam Real Estate, the real estate asset management arm of French bank Crédit Agricole, has completed the acquisition of an office building in the northern Italian city of Milan from Svi.Me. The transaction amount comes to EUR 35 mln, excluding costs. The 15,000 m[sup]2[/sup] property is currently let to German adhesive technology group Henkel and generates rental income of EUR 2.2 mln per year. The property is earmarked for Caam Re Italia and Caam Re Europa funds. The deal reflects a gross yield of 6.34%. GVA Redilco advised Caam RE.
Caam Real Estate, the real estate asset management arm of French bank Crédit Agricole, has completed the acquisition of an office building in the northern Italian city of Milan from Svi.Me. The transaction amount comes to EUR 35 mln, excluding costs. The 15,000 m2 property is currently let to German adhesive technology group Henkel and generates rental income of EUR 2.2 mln per year. The property is earmarked for Caam Re Italia and Caam Re Europa funds. The deal reflects a gross yield of 6.34%. GVA Redilco advised Caam RE.
