Mathieu Cassinis, acquisition director of Aareal Asset Management, announced the signing of a promissory agreement for the purchase of an office building located in the periphery west of Milan.
The total investment is €37 mln reflecting a cap rate of 7%. The building is rented to Class A International tenants. The building will be part of Aareal Italy Fund that reaches the target investment size of €400 mln. The total investments of Aareal Asset Management in Italy are over 700 mln in retail, office and logistic sector.
Source: Aareal Asset Management