Fondo Pensioni per il Personale Cariplo, advised by Dils, has sold a portfolio comprising six mixed-use properties in Lombardy, Italy, to Kervis SGR. The assets occupy a total gross area of about 54,000m², with three properties located in Milan - Via Venezia Giulia 5A (offices); Via Frua 21/10 (residential, offices); and Corso San Gottardo 1 (residential, offices, retail); and the remaining buildings in Pioltello, Legnano, and Lecco.
The residential assets are of particular importance since they represent one of the most significant deals transacted in Milan in the first part of the year in terms of the amount invested. The residential component of the portfolio thus highlights the centrality of this asset class in investors' strategies, international investors in particular, with a focus on income opportunities in consolidated locations.
According to Dils data, in the first quarter of 2022, the Living sector attracted investments for a total of €526m, ten times higher than the volume achieved in same period of the previous year. Milan accounts for 60% of total investments in the sector, and pipeline PRS projects account for about 7,600 building units for rent on the open market. The purchase price was not disclosed.