Kryalos SGR sells €122m Italian office portfolio

Kryalos SGR S.p.A. has sold an Italian office portfolio, located in Milan and Rome, to DeA Capital Real Estate SGR S.p.A. The overall value of the deal is over €122 million ($139 million).

Acquired on behalf of Fondo Ippocrate, a closed-end alternative real estate investment fund reserved for institutional investors, the portfolio comprises two real estate complexes in Milan — Corso di Porta Romana, 13/15 (Palazzo Mellerio) and Piazza Velasca, 7/9 — and Via Veneto, 54 in Rome.

The two adjacent and connected buildings in Milan have recently undergone a significant redevelopment, creating a unique real estate complex. Renamed “MeVe”, it is almost entirely leased to a marketing consultancy company.

The property in via Veneto in Rome is located in one of the most prestigious areas of the city, near the Barberini stop of the underground line A. It is entirely leased to a leading international company in the co-working sector.