Beni Stabili acquires Rome building for EUR 108 mln

By A staff reporter 2006-12-12T00:00:00+00:00

Italy's Beni Stabili has announced the purchase of a building in central Rome for EUR 108 mln, Italian Newspages Realestate reported. The property company won the bidding run by the city's municipality in June 2006, and it has moved forward with the acquisition this month. The property covers a 30,965 m[sup]2[/sup] area, mainly for office use, and is located in Ostiense, one of Rome's major squares.

Italy's Beni Stabili has announced the purchase of a building in central Rome for EUR 108 mln, Italian Newspages Realestate reported. The property company won the bidding run by the city's municipality in June 2006, and it has moved forward with the acquisition this month. The property covers a 30,965 m² area, mainly for office use, and is located in Ostiense, one of Rome's major squares.

In a statement, Beni Stabili managing director Terenzio Cugia di Sant'Orsola said the property group intends to invest another EUR 12 mln for the refurbishment of the property. Founded in 1904 and listed on the Milan Stock Exchange since 1999, Beni Stabili is one of Italy's leading property companies.