Italy’s EstCapital sells estate to Schroder Property
The Fondo RealEmerging, managed by EstCapital SGR, has sold the Muratti Höfe estate, based in Berlin, to Schroder Property.
The sale was made at €28.7m, with net profit for the buyer of 6%.
The fund has obtained an IRR levered asset throughout the last two years of about 9%.
In the past, the building hosted the cigarette producer Muratti and was then restructured in 2010. EstCapital SGR bought the building in 2011.
The sales operation has been concluded with the help of Cushman&Wakefield.
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