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Assets for 1 billion for Invimit

 

According to the fund’s last report, 100 million euro come from the divestiture of Inps properties. The vehicle for the rental properties is valued for 300 million. And Inail might soon reach 200 million

Nearly 1 billion of managed assets. This is the value of the portfolio managed by Invimit, the asset management company of the Ministry of Finance, according to the figures included in an update of the Document of Economy and Finance, approved by the Council of Ministers. The section about the requalification of the public real estate assets reads that the total value of the assets transferred to the funds incorporated and managed by the society guided by Elisabetta Spitz amounts to 891 million euro. Its last operation was the launch of the vehicle to disinvest the Inps investment properties for a value of 2.5 billion euro. After the launch, the fund had stayed inactive, then it started a couple of months later with the transfer to i3 Inps of the first 21 assets for a 66 thousand square metres  surface and 100 million euro assessed value. The fund might reach 800 million euro and seeks a return of 4%.

Regarding the other funds managed by the company reporting to the Ministry of Economy, the biggest so far has been that for the rental properties (i3 Patrimonio Italia) that gathers the assets of local authorities rented by the Ministry of the Interior and that currently holds a 306 million euro portfolio. It’s followed by i3 Regione Lazio that collects properties for a value of nearly 180 million euro, then the fund Sviluppo italia, for the requalification of the properties previously occupied by the public administration and the Ministry of Defence offices for a value of 130 million. There is  i3-Inail, with assets for about 105 million. However, according to Milano Finanza, the vehicle would be evaluating new operations and it might reach soon 200 million of the 300 it set as objective. Finally, there is the fund dedicated to universities with managed properties for 71 million euro.

These figures prove the important work carried out by the company of the Ministry of Finance, after its unnoticed start. However, for the reduction of the public debt, we must wait for the placement on the market of the quotas and the related earnings.

 

Source: Milano Finanza

Translator: Cristina Ambrosi