Fonciere Lfpi Europa's FLE Italia SICAF fund has struck its first acquisition with the purchase of an office building in Rome's EUR district for a price believed to be around €33 mln.

via vittorini

Via Vittorini

The asset, which was bought from AXA IM - Real Assets, is located at Via Vittorini 129 and provides around 11,000 m2 of office space leased to major pharmaceutical companies and boasts a Leed Gold environmentally-sustainable rating.

Market sources say AXA IMRA was looking to cash in €40 mln for the asset, but eventually closed the deal well below the initial asking price.

JLL brokered the deal.

The transaction comes only a day after German investor Deka Immobilien emerged as the buyer of Via Colombo 80, a prime office building located in Rome’s Greater EUR submarket. Although financial details were not disclosed, well-informed market sources say Deka paid around €120 mln for the asset, which was sold off-market by French investor Ardian Real Estate.

The property, with a 20,000 m2 of gross lettable area, recently underwent an extensive refurbishment and today represents one of the highest quality offices in the city and one of the few buildings to hold a double green building certification: LEED and BREEAM. Almost 90% of the GLA is leased to a mix of corporate tenants including PWC and Prelios, who both re-confirmed the location as their Roman headquarters after the refurbishment.