Beni Stabili Sgr has raised an initial €86 mln for a fund focused on investment in distressed situations.
Beni Stabili Sgr has raised an initial €86 mln for a fund focused on investment in distressed situations.
The fund, called Securis Real Estate II, is the successor vehicle of Securis Real Estate which has just made its ninth acquisition, reaching a volume of some €200 mln.
The new fund targets vacant properties as well as non-performing loans and will re-open for further equity raising in September and December this year, Rome-based Beni Stabili Sgr said. Beni Stabili Sgr is the fund management arm of Italy's largest REIT Beni Stabili.
'The placing of this fund dedicated to buildings which need to be made productive once again, strengthens a line of business in which we have been active for years,' commented Anna Pasquali, CEO of Beni Stabili Gestioni Sgr. 'With this product we want to offer the banking system a solution to their liquidity issues and an alternative to their problem assets.
Last month, PropertyEU broke the news that Beni Stabili had dissolved its joint fund management platform with Germany’s IVG Immobilien just six months after its launch.
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