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Armonia fund sells residential assets in Milan to Maghen Capital

Armonia fund sells residential assets in Milan to Maghen Capital

Kryalos SGR, an independent private asset management company with managed assets of 12 billion euros and recognized as a “significant asset management company in terms of size” as defined by the Bank of Italy, announces that the Armonia Fund has successfully completed the sale of a residential property located in Milan at Via Costanza, 12-19/Via Gessi, 8 to Maghen Capital.

The property is spread across 5 above-ground floors and a basement, comprising a total of 67 housing units, along with office space and an outdoor area designated for parking. Acquired by the Armonia Fund in 2022, the building holds significant historical and architectural value, dating back to the early 20th century and featuring an elegant Liberty-style facade.

Costanza-Gessi is situated in the western part of central Milan, within the Washington-Solari district, near Via Washington, Corso Vercelli (one of the city’s main shopping areas), and Citylife. Only 3 km away from Piazza Duomo, the area is easily accessible by public transportation, thanks to the proximity of numerous bus and tram lines. Additionally, it will benefit from the opening of the “Bolivar” stop on the new Metro Line 4, just a few minutes’ walk from the property.

Paolo Bottelli, CEO of Kryalos SGR, stated, “Today’s transaction is part of the strategy to enhance the real estate portfolio of the Armonia Fund, which has allowed us to achieve excellent returns for our investors in just a year and a half of management. Through active asset management aimed at increasing investment value.”

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