Inarcassa RE, an Italian fund managed by Fabrica Immobiliare on behalf of institutional investors, has acquired an office property in Milan for EUR 45.5 mln. The vendor was German fund manager Deka Immobilien.
Inarcassa RE, an Italian fund managed by Fabrica Immobiliare on behalf of institutional investors, has acquired an office property in Milan for EUR 45.5 mln. The vendor was German fund manager Deka Immobilien.
The property, located on Viale Regina Giovanna 27 - 29 near the centre of the Italian financial metropolis, has around 16,000 m2 of lettable floor space.
Deka Immobilien had purchased the property, which was originally built in 1953 and has been remodelled several times, in 2004 for one of the special property funds it manages.
DekaBank Group is the largest provider of open-ended property funds in Germany. The two capital investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfond, together manage fund assets of over EUR 23 bn at end-December 2011.
