Private equity real estate firm MGPA has agreed to acquire a Grade A office scheme in Milan for EUR 53mln when it is completed. The property is being acquired for MGPA Europe Fund III, part of the larger MGPA Fund III which closed in June 2008 with commitments of EUR 6.5bn. The 17,129 m[sup]2[/sup] building, which MGPA said will comply with EU environmental directives, is scheduled for occupation by June 2010.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
