Italian asset manager Kryalos Sgr has completed the sale of a historic city-centre asset in Turin on behalf of the Perseus fund, entirely invested by Attestor Limited, for around €60 mln.
Although the name of the buyer was not disclosed, it is believed to be US asset management group Invesco.
The seven-storey asset dates back to 1937 and was bought by Kryalos Sgr in September 2018. It provides around 21,500 m2 of space with retail on the ground floor and residential and office space on the upper storeys.
Kryalos Sgr has been mandated to carry out an extensive redevelopment to transform the offices into new housing units.
‘The transaction allows us to obtain an excellent return for our investor in a year and a half of management. It is also a very important deal for the Turin real estate market,’ said Paolo Bottelli, managing director of Kryalos Sgr -