Italian asset manager Kryalos has finalised the sale of a 3,000 m2 office located in Milan in via Principe Amedeo, 3.
Financial details were not disclosed.
The office property consists of five floors above ground, as well as two mezzanine floors and a basement, and is leased to a major Italian law firm.
Built in the mid-19th century and a protected building, the property is located in the heart of Milan, opposite the Turati metro station and the United States Consulate General, in a predominantly tertiary sector and residential area.
Sold to a private investor, the asset was held by the Richmond fund, a closed-end real estate investment vehicle established in 2017, backed by funds attributable to Blackstone and managed by Kryalos.
Alberto Lupi, senior managing director real estate & credit fund management, Kryalos said: 'The sale of the property in via Principe Amedeo 3 represents confirmation of the liveliness and attractiveness of the Milanese real estate market and in particular of high quality office asseta benefitting from central locations.
'Prestigious headquarter assets located in the CBD of Milan with standing tenancies continue to attract considerable interest from institutional investors, private investors and family offices.'
