19 December, Monitor Immobiliare
Beni Stabili has completed the sale for a portfolio which includes the Excelsior in Milan and two commercial buildings in Turin for a total price of 220.5 million euro.
On 19th December, the shares on the Stock Exchange didn’t report any variation (+0.07%), while the FTSE MIB reported a 1.59% increase.
With this operation, the company has increased by almost 2% the allocation of the Milan office portfolio, which reached 72% of the total market value.
Excelsior Galleria del Corso in Milan is a high street commercial building not far from Duomo. Last July Beni Stabili entered a lease agreement for a 5,000 Sq m space with Hexagon which will replace the current tenant COIN Excelsior in 2019 once remodelled. The building is located in Galleria del Corso, and it will accommodate the biggest Victoria’s Secret flagship store in Italy.
The other two assets of the portfolio are two multi-tenant offices located in Turin city centre. The surface is over 44,000 Sq m, and they’re almost fully let.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi