Covivio has signed a binding agreement for the disposal of an asset in Milan

Covivio has signed a binding agreement for the disposal of a multitenant office building to Aermont Capital

The complex, with a gross area of 28 thousand sqm, is located at Viale dell’Innovazione 3 in Milan, in the Bicocca area, and it is part of the “manage to core” portfolio. Hence, with this transaction, which should close in December, Covivio continues to streamline its portfolio and reduce its letting challenge. The Group also pursues its active asset rotation, selling non core or mature offices and reinvesting into new developments such as L’Oréal and Moncler headquarters in The Sign and Symbiosis districts of Milan, or Corso Italia and Wellio Duomo redevelopments in the CBD of the city.

This disposal was made at a value in line with the latest appraisal value.