Fimit fund sells 14 assets for EUR 152m

Fondo Beta Immobiliare, an Italian listed investment fund managed by Unicredit's fund management unit Fimit, said on Wednesday that it has sold 14 properties to Fabrica Immobiliare for EUR 152mln. Jones Lang LaSalle advised the seller on this transaction.

Monte Paschi Asset Management holds a 45% stake in Fabrica Immobiliare.

In a statement, Fimit - Fondi Immobili Italiani - said that the real estate adviser has contacted 48 potential investors for the 91,510 m² portfolio, of which nine showed interest in the properties. The portfolio consists of 12 office buildings, one residential complex and a military barrack located in the cities of Rome (7), Perugia (3), Padoa, Segrate, Codogno and Saronno. The deal generates a gain of some EUR 58mln, Fimit said.

The deal is in line with the strategy of the fund, which has a life period of just three years and has just started the divestment process of its assets.