Deka Immobilien sells office property in Milan to Inarcassa RE

Deka Immobilien GmbH has sold the Viale Regina Giobanna 27 - 29 office building in Milan to “Inarcassa RE”, an Italian real estate fund, reserved to institutional investors, managed by Fabrica Immobiliare SGR S.p.A. for €45.5 million. The property has around 16,000 sqm of lettable floor space and is located near the centre of the Italian financial metropolis which is home to the country’s largest office market. Deka Immobilien had purchased the property, which was originally built in 1953 and has been remodelled several times, in 2004 for one of the special property funds it manages.