The Treasury to sell assets for 284 billion euro
14 November, We Wealth
Invimit Sgr (100% owned by the Italian Ministry of Treasury) is currently working on an operation to sell or requalify public properties for a value of 600 million. According to the latest reports, the assets owned by Government bodies in Italy amount to 284 billion euro, covering a surface of 340 million Sq m. Invimit manages assets for 1.6 billion euro and holds approximately 300 assets.
Invimit aims at optimizing the assets by selling those properties that are not consistent with the Government’s strategy and put them on the market in order to use the proceeds for better purposes. 76% of the estimated value comes from properties owned by the local authorities. Therefore, it’s necessary to seek Municipalities’ cooperation in order to requalify the estate.
For this purpose, Invimit put in place different strategies: from the constitution of the fund Dante for a value of 250-300 million euro to selling directly real estate portfolios as well as retailing the single properties through online auctions.
Source: We Wealth
Translator: Cristina Ambrosi