MCAP Global Finance, the British subsidiary of the New York–based Marathon Asset Management, has acquired the Edison Center office in Sesto San Giovanni, Italy, located near Milan. The sales price was €90 million ($100 million).
The property was acquired in 2007 by Commerz Real for its open-ended real estate fund hausInvest and completed in 2009.
Daniele Martignetti, head of capital markets of BNP Paribas Real Estate Advisory Italy, which represented MCAP, said, “The Edison Center represents a very significant transaction, the first concluded by the American asset management company, Marathon, in the office sector in Italy. At this time when Italian real estate is reaching new record volumes, it is clear that the combination of location, quality and good returns is a particularly interesting lever for all investors active in the European market today. We are therefore proud to have supported the Marathon team in this off-market acquisition, which again highlights
