SEB Asset Management lets 3,500 sqm of space in Italy
SEB Asset Management has signed a lease with Xchanging Italy for 3,470 sqm of space in the Via
della Chiusa office building in Milan for the SEB ImmoInvest open-ended real estate fund. The
global provider of cross-sector back-office services acquired the existing tenant, AR Enterprise,
and extended the existing lease for 1,970 sqm of space ahead of time, as well as leasing an
additional 1,500 sqm. This means that the space is let until the end of April 2019 with the option
of extending the lease for an additional six years.
The property consists of three sections, which were built in the period between 1965 and 1970.
It is located centrally in Milan’s historic old town, not far from the cathedral. SEB Asset
Management bought the property in 2004 for SEB ImmoInvest following extensive renovation
work. The office complex has a total of 25,360 sqm of rental space as well as 117 parking spaces
for cars and 11 for motorcycles. The current letting rate is around 94 per cent. The main tenant is
the international audit and consulting company, Ernst & Young.
Source : Company