Commerz Real Expands its Italy Portfolio
→ Edison Park Center complex finally complete
→ Property in Milan added to the hausInvest fund
→ Property in Milan added to the hausInvest fund
Edison Park Center complex
Commerz Real just completed the economic transfer for the third one of the properties that make up Edison Park Center. The entire complex, which consists of three buildings and is located in Milan’s Sesto San Giovanni district, is now fully added to the hausInvest portfolio. The deed for the project developments was signed in 2007, it was agreed not to disclose the transaction volume. The property complex was sold by Nexity, a company with which Commerz Real already closed successful transactions in Madrid, Brussels, and Milan.
„The portfolio of the hausInvest fund currently includes about 6 percent in Italian real estate investments,“
said Hans-Joachim Kühl, Member of the Board of Commerz Real and in charge of real estate management.
„The business metropolis of Milan, where we own several assets, represents our most important investment location in Italy.“
The seven-storey office building just added to the portfolio is located next to the other properties of Edison Park Center. The building features a gross lettable area of around 12,000 sqm. Another hausInvest property located in the vicinity houses the administrative seat of the ABB electric engineering group in Italy. The entire quarter is characterised by a stable tenant situation and great access to public transportation.
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Short Profile of Commerz Real AG
Commerz Real is a fully-owned subsidiary of Commerz Bank AG with more than 40 years of market experience and approximately 40 billion euros in assets under management. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services: Fund products focused on tangibles ensure a stable long-term asset accumulation, while tailored financing concepts create new investment margins. The company’s investment products include open-ended real estate funds, specialised real estate funds, and closed-end funds for real estate, aviation, renewable energy and ships. Among its spectrum of financing products are planning, construction and financing services in the context of commercial real estate and investment solutions for a wide variety of asset classes. In its role as leasing company of Commerzbank Group, Commerz Real moreover offers tailored equipment leasing concepts.
- Links:
- www.hausinvest.de/en