Italian property company Beni Stabili plans to swap its 42-48% interest in three office projects in Turin for a new property, CEO Aldo Mazzocco told PropertyEU in an interview during the second day of the EIRE property fair in Milan.
Italian property company Beni Stabili plans to swap its 42-48% interest in three office projects in Turin for a new property, CEO Aldo Mazzocco told PropertyEU in an interview during the second day of the EIRE property fair in Milan.
The three developments - providing 34,000 m2, 58,000 m2 and 34,000 m2 of space respectively - were bought in 2005 as part of a larger portfolio in a joint venture with local developer Gefim and the Fiat Group. They are located at Corso Marconi, Via Caraglio and Corso Dante in the Northern Italian city of Turin.
Mazzocco declined to discose further details on the building that Beni Stabili is receiving in exchange for its stake in the three projects. Fiat owns around 15% of the joint venture while Gefim has a 42% interest.
