Alpha Immobiliare Fund, managed by Italian fund manager Fimit, has divested an office complex located in Basiglio, near Milan, to an unnamed local institutional investor. The transaction price amounts to EUR 18 mln.

The office complex is almost fully let and consists of two buildings, Palazzo Volta and Palazzo Galilei, which offer a combined space of 12,000 m2. The scheme is situated within the Milano 3 City business park in the southern outskirts of Milan.

Milan-based real estate brokerage firm Realty Lab advised Fimit Sgr on the deal.

Fimit is a major Italian fund manager with 13 real estate funds and over EUR 5.3 bn of assets under management.

Realty Lab is an independent real estate consultancy and brokerage firm based in Milan. It was founded in 2009 by Roberto Nicosia and Alessandro Manetti.