Benson Elliot buys ER Office Fund to add Milan office assets

Benson Elliot Segreen Italy

UK fund manager Benson Elliot has acquired 100% of the assets in an Italian real estate investment fund ER Office Fund 3 to take ownership of two business parks near Milan’s Linate Airport.

The Europa Risorse fund’s two assets were purchased in separate transactions, from BNP Paribas SGR and from Generali Real Estate’s Toscanini Fund, and comprise 485,000 sq ft across adjacent sites in Segrate, opposite from the under-development €1.4 bn Westfield Milano.

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