J.P. Morgan Asset Management sells Sericon Investment Fund
A fund advised by J.P. Morgan Asset Management has sold 100 percent of the units in Sericon Investment Fund – Reserved Alternative Real Estate Investment Fund, managed by Savills Investment Management SGR.
The fund owns the trophy asset known as Cortile della Seta, a mixed-use historical building located in Milan, via della Moscova 33. Maston Investment Management acted as strategic development advisor of the fund.
Dils and CBRE advised on the transaction, one of the largest single-office transactions recorded in Italy.
Cortile della Seta covers a total area of 25,900 square meters (tk square feet), including more than 2,000 square meters (tk square feet) of retail space and 1,400 square meters (tk square feet) of terraces across multiple floors. The building consists of six floors above ground and an underground level, with parking for cars, motorbikes and bicycles.
Savills Investment Management, with the support of Maston IM, undertook an extensive