Tecla Fondo Uffici, a listed closed-end investment fund managed by Pirelli RE SGR, said that it has sold two office buildings in the Northern Italian cities of Bergamo and Milan for a total of EUR 22 mln. The transactions generate a gross capital gain of over EUR 3 mln for the company, it added.
Tecla Fondo Uffici, a listed closed-end investment fund managed by Pirelli RE SGR, said that it has sold two office buildings in the Northern Italian cities of Bergamo and Milan for a total of EUR 22 mln. The transactions generate a gross capital gain of over EUR 3 mln for the company, it added.
The Bergamo asset provides 10,300 m2 of total space, and was sold to an Italian private investor for EUR 19 mln. The property generates nearly EUR 1.3 mln of total annual income, reflecting a yield of 6.57%. The 2,500-m2 office building in Milan was divested to an Italian private investor for EUR 3 mln.
Also in Italy, the Donatello Comparto Michelangelo Due fund, managed by Sorgente SGR, has sold a Coin department store in the city centre of Messina, on the island of Sicily, for just over EUR 12 mln. The transaction was brokered by consultancy firm Realty Lab.
