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Beni Stabili sold Galleria Excelsior in Milan and two assets in Turin for 220 million in total
22 December, Milano Finanza
Beni Stabili completed the sale of Excelsior in Milan and of two office buildings in Turin for 220.5 million euro in total. With this sale, the company increased by 2% its allocation in the Milan office segment, representing now 72% of the total market value. The Excelsior Galleria del Corso in Milan is a high-street commercial building not far from Duomo. Last July, Beni Stabili signed a new lease contract for about 5 thousand Sq m with Hexagon which will replace the current primary tenant Coin Excelsior in 2019 following the remodelling. The asset in Galleria del Corso will accommodate Italy’s biggest Victoria’s Secret flagship store. The other assets of the portfolio are two multi-tenant office buildings in Turin city centre. The total surface exceeds 44 thousand Sq m. The assets are almost entirely leased.
Source: Milano Finanza
Translator: Cristina Ambrosi