Italian listed property firm Beni Stabili said on Thursday it has agreed to sell a building located in the centre of Milan to a private investor for EUR 120mln. The book value of the property at end-2007 was EUR 100mln, the company said in a statement. The office building, which is currently vacant, was fully-let until the end of April to bank Intesa Sanpaolo with a 3.06% yield. The closing of the transaction is expected for the end of 2008.
Premium subscriber content – please log in to read more or take a free trial.
