Beni Stabili Gestioni Sgr, the asset management arm of Italian REIT Beni Stabili, has acquired the Galleria Passarella retail asset in Milan for 鈧�68 mln.
Beni Stabili Gestioni Sgr, the asset management arm of Italian REIT Beni Stabili, has acquired the Galleria Passarella retail asset in Milan for 鈧�68 mln.
The acquisition was made for Beni Stabili's Crono closed-end real estate investment fund, which is backed by two Italian pension funds.
Located on the Corso Vittorio Emanuele, the asset has a gross surface area of about 1,900 m2 and is entirely let to H&M and Vodafone.
Beni Stabili said it has also signed a joint venture with the Fiorucci family to select new investment opportunities for the Crono fund in the high-street retail sector.
