Prelios Agency has acted as advisor on the sale of a privately owned income-earning property in Milan, in Via Marco D’Aviano 2.
The property, a single-block office building, is located to the north-east of central Milan near Piazzale Loreto, in a strategic position close to the Pasteur and Loreto metro stations. It has a total surface area of approximately 8,200 sq.m (8 floors above ground and three below ground) and 56 parking spaces.
The building is fully occupied, by five high-profile tenants with multi-year leases, and has undergone restructuring and extension work in the communal areas and underground.
It has been purchased by the Sympleo real estate fund managed by REAM SGR.
Nicola Giorgini, Director di Prelios Agency, commented: “This operation responds to institutional investors’ search for stabilized core products on a market where supply – especially in Milan – is becoming more limited. Located in an area of the city undergoing significant development, the property has excellent transport links and high-quality tenants. Prelios Agency completed the sale transaction after helping the seller lease the spaces and turn the property an income earner.”