Italian fund manager Prelios Sgr has announced the sale of the historic Rinascente building located in Milan's Piazza Duomo for EUR 472 mln, representing a gross yield of 4.7%. The landmark department store was sold to the Ippocrate investment fund, which is majority-owned by the privatised pension fund for Italian doctors and dentists (Enpam) and is managed by Italian fund manager First Atlantic Real Estate.
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
