Kryalos sells the 'Swan Palace' in Segrate

Kryalos finalised the sale of the real estate complex 'Palazzo dei Cigni', in Segrate (Milan), on behalf of Fondo Artemide. The asset - overlooking the artificial lake of Milano 2 - is one of the most recognisable buildings in the district, developed in the Seventies. The total area is about 44 thousand square metres, with a mixed use of offices, retail spaces and hotel component.

According to the company, the complex is fully leased to a hotel operator, a private Italian university, and two catering businesses. The building thus functions as a service hub supporting the Milan 2 district. The transaction is part of the gradual divestment strategy of Fondo Artemide's portfolio.

"This transaction confirms our ability to create value in the asset classes in which we operate through careful management and constant monitoring of portfolio quality," said Alberto Lupi, Senior Managing Director Fund Management & Advisory at Kryalos. "The sale is part of a path of progressive enhancement and rotation of assets for the benefit of the Fund's investors."

Kryalos manages EUR 14.2 billion in real estate, with a team of 130 professionals, and is classified as a 'size-significant' asset management company by the Bank of Italy Regulation.