FONDO CLOE SELLS ITS ASSET HQ2 IN MILAN TO NEIF FUND OF BNP PARIBAS REIS

Jan 22 2014

SALE VALUE: APPROX. 47.5 MLN\€

Milan, 21 January 2014 – Fondo Cloe, a real estate investment fund managed by Prelios SGR, sold its Asset of Milan called HQ2 to the Pan-European fund NEIF (Next Income Fund) advised by BNP Paribas Real Estate Investment Services, for a price of approx. € 47.5 million.

The building for office and light-industrial use is about 14,600 sq m and is entirely leased to Pirelli Tyre.

The HQ2 is located in Milan Bicocca district, in Viale Piero e Alberto Pirelli 23/25. It was developed by Prelios on behalf of the Cloe fund between 2007 and 2009 based on the design of Studio Gregotti Associati International. It consists of 5 floors above ground and two underground levels destined to parking and storage spaces.

Particular attention has been focused on the building energy efficiency improvement, with the purpose to minimize the environmental impact at plant and architectural level, in particular through the use of specific sunshade louvers and brise-soleils by means of which the radiant energy passing through in the office spaces is reduced by 85%.

 

 

Prelios SGR is one of the leading Italian real estate fund management companies. The value of asset under management (AuM) is equal to nearly 3.8 billion euro (at 30 June 2013), divided into over 20 funds. Nearly 36% of fund investors are financial institutes and investment funds, nearly 19% are corporate clients, and the residual part includes foundations and pension funds, insurance companies, public entities and retail investors. Prelios SGR manages about 1,350 properties, located primarily in Milan and the province of Milan (22%), Rome and the province of Rome (26%) and Turin (11%). The asset classes most representative of the properties under Prelios SGR management are the following: office (45%), industrial and logistics (25%), retail & entertainment (19%) and residential (nearly 5%).

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For additional information:
Prelios SGR Press Office - Tel. +39/02/6281.41571 - pressoffice@preliossgr.com
Prelios Investor Relations - Tel. +39/02/6281.4057
www.preliossgr.com;