Milan, 12 September 2024 – Central SICAF S.p.A., in line with its strategy to rationalize its real estate assets, has finalized disposals and signed binding sale agreements in the first half of 2024 for a total countervalue of approximately €82 million.
The final sales concerned 5 assets, currently leased to a leading telecommunications operator, for a total countervalue of approximately €31 million in line with market value. All the properties sold were marketed directly by Central SICAF S.p.A..
Two of these five properties, located respectively in Prato, via Convenevole 34/36 (gross area of approximately 3,900 sqm) and in Messina, via Ducezio (gross area of approximately 7,300 sqm), were sold to an Infrastructure Fund that has recently entered the Italian market, for a total countervalue of approximately €12.4 million. The remaining three properties were sold to private investors with a view to differentiating their investments.
Further binding agreements in place, amounting to approximately €51 million, are expected to be executed by the end of the year and concern the sale of 5 properties, one of which not leased located in Rome, for which Central SICAF has carried out an urban valorization activity in order to better position it on the market.
Marco Bignami, CEO of Central SICAF, said: “After a complicated year in which real estate transactions slowed down due to the increase in interest rates, these transactions allow Central SICAF to take another important step towards the implementation of its strategy to rationalize its real estate portfolio. It also confirms how income property investment is a useful means of inflation protection.”