May 14, 2018

GVA Redilco acts as advisor in letting of 11,000 sqm in Rome – EUR

Rome, 14 May 2018 – GVA Redilco acts as advisor on behalf of DeA Capital Real Estate SGR S.p.A. in the letting of 11,000 sqm to two prime tenants.

The first deal of 7,000 sqm was closed at the Via dell’Arte business center, owned by an Alternative Real Estate Investment Fund, for professional investors, managed by DeA Capital Real Estate SGR S.p.A. Found in the center of Rome’s EUR business district with an area of approx. 30,000 sqm, the property comprises 3 blocks, one of which houses services and the remaining two offices. The blocks have been fully refurbished to high quality standards, earning one of the city’s first LEED Platinum Certifications.

The other 4,000 sqm were transacted at the Da Vinci Center, on the Rome-Fiumicino axis and the first complex in the city to be built to Grade A+. The complex comprises 3 blocks, two of which are for office use (Buildings 1 and 2) and one for services (Building 3). The business center already hosts prime national and international companies.

These deals confirm the same positive trend recorded in Rome’s office leasing market at the end of 2017. According to GVA Redilco, who over recent months also signed other significant letting transactions in Rome for a total of 30,000 sqm, this illustrates how refurbishment schemes are rewarded by a market which is driven by demand for quality spaces.

“Thanks to renewed interest from institutional investors, we can expect improvements in the average level of quality for offices in Rome, in the CBD and EUR, which are available in the next 12/18 months following refurbishment to international standards,” comments Giuseppe Amitrano, CEO of GVA Redilco.