PropertyEU

First Atlantic snaps up Milan's Rinascente for EUR 472m

By A staff reporter 2011-03-24T00:00:00

Italian fund manager Prelios Sgr has announced the sale of the historic Rinascente building located in Milan's Piazza Duomo for EUR 472 mln, representing a gross yield of 4.7%. The landmark department store was sold to the Ippocrate investment fund, which is majority-owned by the privatised pension fund for Italian ...

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