Dea Capital sells Milan office complex for €175m

Italian asset manager Dea Capital has announced that its Atlantic 1 closed-end fund has agreed to sell a mixed, office-led building at piazza Cavour in Milan for a price of €175 mln in onf the Italy's largest single asset deals of the year.

The property, developed in 1939, was bought by the local Rovati family for a sum representing a 34% premium on the asset's latest appraised value per year-end 2018.

Also known as Palazzo dell'Informazione, the complex provides 23,400 m2 of space over 7 storeys and two underground levels. It also includes retail units on the ground floor.

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