Italian real estate investment trust Beni Stabili has sold a multi-let office asset in Milan to the pan-European Next Estate Income Fund.
Italian real estate investment trust Beni Stabili has sold a multi-let office asset in Milan to the pan-European Next Estate Income Fund.
Located at via Pergolesi 25, the property was divested for an overall amount of €28 mln, reflecting a 6.2% gross yield on the selling price.
Beni Stabili bought the asset in 2011 from Credit Suisse Asset Management for €25 mln and subsequently carried out some redevelopment work.
The building provides 7,050 m2 of fully let lettable area as well as 45 parking spaces. Beni Stabili was advised by BNP Paribas Real Estate Investment Services.
