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Coima Res sells Rome office property for €90M

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Coima Res sells Rome office property for €90M

A UBS Asset Management-managed fund purchased the Eurcenter office building in Rome for €90.3 million on behalf of Zurich Insurance Group's Zurich Italy Real Estate Fund, IPE Real Assets reported.

Coima Res SpA SIIQ sold the property at a 13% premium to the asset acquisition price in August 2016 and a 4% premium to its June 30 book value, the news outlet added.

The asset, which was refurbished in 2010, represented 12% of Coima's portfolio and was the Italian real estate investment trust's second-largest property.