Coima Res, a listed real estate investment company, specialized in investment and management of commercial real estate properties in Italy, announces today the acquisition of 36% ownership in an office complex located in Via Bonnet, at the heart of Porta Nuova business district in Milan.
Coima Res will contribute with €51m and the joint venture partner, Coima Opportunity Fund II, the development fund backed by a primary Sovereign Wealth Fund, will contribute the remaining 64%
The complex comprises two buildings: a core-plus low rise office building of 5,200m² and a value-added high rise office building of 14,400m²·, total net rentable area of approximately 19,600m². Total project cost is expected to be €140m.
The acquisition has been assisted by the legal firm Shearman & Sterling and by the tax advisor Maisto & Associati. Banca Popolare di Milano is the bank financing the transaction.
