Italy's Estcapital, on behalf of its RealShops fund, has sold a building located in the historic centre of Verona, Northern Italy, and fully leased to the fashion retail chain Gruppo Coin. The property, with 6,000 m[sup]2[/sup] of lettable area, was sold for EUR 19 mln, a 17% increase on the asset value of EUR 16 mln. The transaction reflects a gross yield of 5.9%. Estcapital said it has realised gains of EUR 2.7 mln from the sale of the asset.
Italy's Estcapital, on behalf of its RealShops fund, has sold a building located in the historic centre of Verona, Northern Italy, and fully leased to the fashion retail chain Gruppo Coin. The property, with 6,000 m2 of lettable area, was sold for EUR 19 mln, a 17% increase on the asset value of EUR 16 mln. The transaction reflects a gross yield of 5.9%. Estcapital said it has realised gains of EUR 2.7 mln from the sale of the asset.
Estcapital, headed by Gianfranco Mossetto and Federico Tosato, is an Italian fund manager specialised in institutional funds. The company runs a total of 13 funds with equity of EUR 650 mln.
