(Visited 221 times, 1 visits today)
(Visited 221 times, 1 visits today)
  • Transaction / Assets
    Two office buildings in Rome
  • Seller
    DeA Capital Real Estate sgr
  • Buyer
    NA
  • € MM
    53

DeA Capital Real Estate to sell two office buildings in Rome for 53 million euro

28 February, Bebeez

DeA Capital Real Estate sgr, through its fund Alpha, entered a preliminary agreement for the sale of two office buildings in Rome for 53 million euro before taxes. The final contract will be signed by 29th March.

The two properties are both located in Rome, respectively in Via Capitan Bavastro 174 and in Via Cristoforo Colombo 44. This latter was built in 1969 and restructured in 1997. It consists of 12 floors above ground and two underground, including a conference room and a garage. The asset is located in the southern part of Rome, near the Aurelian walls, halfway between the city centre and the Eur area. The complex has an L-shaped structure facing on Via Cristoforo Colombo and Via Capitan Bavastro. It’s linked to the city centre, the city ring road, the motorway and the Leonardo da Vinci airport through primary road connections. The property in Via Capitan Bavastro consists of an adjoining intercommunicating building which is occupied by Ministerial offices. It’s composed of eight floors above ground and three underground.

The Alpha fund has been the first public contribution fund in Italy, as well as the first being listed on the Italian Stock Exchange. It was launched in 2001 with 26 assets located in Bologna, Milan and Rome, mostly for office use. In 2015 the duration was extended by other 15 years from the original maturity scheduled for 27th of June 2015. In this way, the new fund’s maturity is 27th June 2030, as long as the company will not anticipate the liquidation.

DeA Capital Real Estate sgr is an asset management company of De Agostini Group, which in November 2018 increased to 94% its share quota, while Fondazione Carispezia holds the remaining 6%. At the beginning of the year, the asset manager started a strategic partnership with the reassurance group Barents Re. The objective of the partnership is to provide innovative solutions to the management of real estate portfolios in order to meet the needs of institutional investors and to optimise the asset structure, to monetise any potential capital gain, and to book any recovery on value. Among the most recent operations by DeA Capital Real Estate sgr, there are the sale of 13 assets leased to Carrefour for 47 million euro as in November 2018, the sale of a property in Viale Monza in Milan for 49 million in August, and the purchase of Palazzo Aliverti in Milan for 80 million euro. Moreover, in September 2018 the asset manager started its expansion in Europe with the incorporation of DeA Capital Real Estate France in France.

Source: Bebeez

Translator: Cristina Ambrosi