The Italian real estate arm of insurance group Generali has purchased an office building leased to the Ministry of Health from Bodio Center, a subsidiary of Aberdeen Immobilien. The transaction price amounts to around EUR 120 mln. The transaction is said to be Italy's largest office single-asset deal of 2010.

Located in the Eur financial district of Rome, the fully let property was owned by Aberdeen's Degi Europa open-ended property fund currently in liquidation. It was bought in 2007 and offers nearly 35,000 m2 of space as well as 303 parking spaces.

The purchase was made on behalf of Generali Immobiliare Italia Sgr's Mascagni real estate fund.

Law firm Dla Piper advised the seller on legal matters. Bonelli Erede and Pappalardo acted for the buyer.