AXA Real Estate Investment Managers (“AXA Real Estate”) has announced that it has completed the acquisition of Torre Beta, a core office building in Milan, from a fund managed by UBS Real Estate GmbH, for approx. €30 mln.
The acquisition was made on behalf of the Columbus Real Estate Euro Fund, a closed-ended real estate alternative investment fund, launched and managed by AXA Real Estate Investment Managers SGR, an Italian regulated subsidiary of AXA Real Estate.
Located in a prime location within the central business district of San Donato Milanese, the high quality asset comprises 16,300 m² of Grade A office accommodation spread across 10 floors over two basement levels, which provide parking and storage space. The building is currently fully let to five separate corporate tenants, primarily from the financial services and energy sectors.
Source: AXA Real Estate Investment Managers