Coima Res lowers exposure to bank branches via further disposals

COIMA Res will continue to reduce its exposure to bank branches, the Italian real estate investment trust said today as it announced the sale a portfolio of 11 assets.

Coima has agreed to sell the portfolio of bank branches located in the North of Italy to an unnamed buyer for €23.5m.

The disposal is expected to close before June 2020.

Including the latest disposal, Coima has now sold 48% of the bank branches portfolio which was contributed at the time of the initial public offering in 2016, the company said.

The remaining portfolio is made up of 58 bank branches valued at €69.6m, representing less than 10% of Coima’s total real estate portfolio.

Coima said it will continue to evaluate further disposals of bank branches with the aim to further concentrate its portfolio in Milan.

Tags

Related images

  • Coima RES Bank Branch Disposal

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2572

    Asset class: High Yield Bonds.
    Asset region: Global.
    Size: $200m.
    Closing date: 2019-11-27.

  • QN-2573

    Asset class: Real Estate.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-06.

Begin Your Search Now