Italian asset manager IdeaFimit has sold an office building at via Cavour 5/via Filippo Turati 38-40 to a fund believed to be the Picasso fund managed by Castello Sgr for €45 mln.
Italian asset manager IdeaFimit has sold an office building at via Cavour 5/via Filippo Turati 38-40 to a fund believed to be the Picasso fund managed by Castello Sgr for €45 mln.
The asset, which was held by IdeaFimit's listed Alpha fund, dates back to 1850 and is let to several tenants and includes a fire station.
The sales price represents a 6% discount to the asset's latest appraised value.
Earlier this year Picasso also bought the adjacent building at Via Cavour 6, also from a fund managed by IdeaFimit, known as Beta, for €39 mln.
