Deka buys refurbished Rome HQ of PwC and Prelios

Deka Immobilien has acquired Via Colombo 80, a 20,000 sq m office building in Rome’s Greater EUR submarket.

The deal which was sourced off-market, is reported to have a value of €120 million.

The recently refurbished building now holds a double green building certification having both LEED and BREEAM ratings. The refurbishment upgraded the image and performance of the 10-storey asset and included a façade redesign, and the installation of a double-height entrance hall as well as a gym.

Long-term leases have been signed with PwC and Prelios for whom the building is their headquarters in Rome.

Cushman & Wakefield’s Italian capital markets team advised Deka. “This deal confirms that core assets in key markets are the focus of international investors,” Carlo Vanini, head of capital markets at Cushman & Wakefield Italy.

“The combination of asset quality and covenant of the tenant made this deal extremely attractive for long-term core investors. It also shows that if the real estate fundamentals are in place, the market responds. “