Aquileia Capital Services, asset manager to Immobiliare Stampa, has announced the sale of a period trophy office in Rome for €51.2 mln.
The buyer's identity was not disclosed.
The asset, dubbed Palazzo del Traforo, is situated in Rome's centre, close to the Trevi fountain and the Spanish Steps.
The seven floor property at Via del Traforo 146 covers some 5,000 m2 and combines offices on its upper floors with commercial space on the ground floor. The offices are fully let to the Bank of Italy on a newly signed contract.
Real estate company Immobiliare Stampa was acquired by Bain Capital Credit at the end of 2019. Aquileia Capital Services initiated the sale as part of its asset management strategy for Immobilare Stampa's portfolio.
Cushman & Wakefield’s Italian Capital Markets team and Kryalos supported Immobiliare Stampa in the sale.
Carlo Vanini, head of capital markets Italy at Cushman & Wakefield, said: 'The sale of this iconic building represents a great success and a significant message for the Rome market. The process run by Cushman & Wakefield confirmed the strong interest for core opportunities in Rome’s prime locations from a wide range of capital sources, even in the current context which is characterised by the pandemic crisis.
'The rare opportunity to acquire a trophy asset combined with the competition that our team created during the sales process, led to a fantastic result for our client with the asset sold in a short period of time at a record yield.'
