The Italian fund management arm of French group Amundi has acquired an office building in Casalecchio di Reno, near the northern Italian city of Bologna from the Petrarca real estate fund, managed by Aedes Bpm Re Sgr. The investment volume of EUR 25 mln reflects a yield of 7.39%.

The purchase was made on behalf of Amundi Real Estate Italia Sgr's Amundi Re Europa closed-end real estate fund.

The property, located at Via Isonzo 55, offers 10,500 m2 of gross office space leased to two logistics operators. It generates an annual rental income of EUR 1.8 mln.

Amundi Europa has a portfolio consisting of 13 assets in Italy, France, Germany and the UK. Launched in 2011, the fund has a core investment profile and targets commercial real estate assets in the largest European countries.