Location: 5 km form Milan
About 70k sqm of logistic buildings
About 23k sqm of office
About 15k sqm of plot for further developments of logistic buildings
Value about 100mln€ (negotiable)
Yield about 7% (negotiable)
Seller (AAA) prepared to sign a head lease for entire facility Rent fee (gross of property tax, so no NNN) about Euro 6,1mln (Euro 2,8mln offices + Euro 3,3mln warehouse)
Property tax about Euro 640k (so NNN rental fee equal to about Euro 5,5mln)
Residual financial debt (leasing and mortgage), potentially transferable to the new investor.
Price expectation is in the range of Euro 85mln-90mln
Deal structure- asset deal.
i) Size: About 70k sqm of logistic buildings About 23k sqm of office About 15k sqm of plot for further developments of logistic buildings ii) Lease duration: The standard according to Italian law is 12 years (6+6= 6 years automatically renewable to additional 6 years). In case of specific investor requests different duration could be negotiated iii) Construction years: 1 x 2019 2 x 2008 1 x 2003 2 x 1996 1 x 1997 4 x 1988 1 x 1970 iv) Sale and lease back-> Yes