German investment and asset manager Patrizia has acquired a mixed-use asset in the northern Italian city of Turin from the real estate arm of Italian insurer Generali.
Financial details were not disclosed.
The asset, which covers some 18,000 m2, consists of ground floor retail units with office space on the upper floors. The office component is fully let.
The property has been held in Generali's Mascagni fund to date. It is situated on via Roma, in the centre of Turin, and features a typical pavement colonnade.
GVA Redilco and JLL advised Generali Real Estate on the sale.