German fund manager Deka Immobilien has bought the ‘Newest’ office building in Milan from CBRE Global Investors for around €38 mln.
German fund manager Deka Immobilien has bought the ‘Newest’ office building in Milan from CBRE Global Investors for around €38 mln.
Dating from 1948, the 12,000 m2 property was refurbished extensively between 2006 and 2007 and carries a BREAAM Very Good label. The four-building complex is located in Milan’s Teilmarkt Romolo/Tortona district and is fully let. The anchor tenant is IT services company NTT Data.
Deka is adding the asset to its Deka-ImmobilienEuropa fund.
