Milan, Sept. 12, 2024 – Central SICAF S.p.A., in line with its strategy of rationalizing its real estate assets, finalized sales and binding sale agreements in the first half of 2024 for a total countervalue of approximately 82 million euros.
Final sales involved 5 properties, currently leased to a leading telecommunications operator, for a total value of approximately EUR 31 million in line with market value. All properties subject to sale were marketed directly by Central SICAF S.p.A.
Two of these five properties, located respectively in Prato, via Convenevole 34/36 (gross floor area of approximately 3,900 sq. m.) and Messina, via Ducezio snc (gross floor area of approximately 7,300 sq. m.), were sold to an Infrastructure Fund that has recently entered the Italian market, for a total consideration of approximately 12.4 million euros. The remaining 3 properties were sold to private investors with a view to differentiating their investments.
The additional outstanding binding agreements, amounting to approximately 51 million euros, are scheduled to be executed by the end of the year and concern the sale of five properties, including one unleased property located in Rome, for which Central SICAF has carried out urban development work 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 rising interest rates, these transactions allow Central SICAF to take another important step toward implementing its strategy of rationalizing its real estate portfolio. It is also confirmed how income property investment is a useful means of inflation protection.”