Fondo Alpha Immobiliare, a real estate investment vehicle managed by Italy's Fimit, has completed the sale of an office and retail property located on Via Cristoforo Colombo 70 in Rome, for an amount of EUR 25.5 mln. The buyer is an undisclosed private investor.
Fondo Alpha Immobiliare, a real estate investment vehicle managed by Italy's Fimit, has completed the sale of an office and retail property located on Via Cristoforo Colombo 70 in Rome, for an amount of EUR 25.5 mln. The buyer is an undisclosed private investor.
The agreement, which was first signed at end-May 2009, will lead to a gross gain for Alpha of EUR 2 mln, Fimit said in a statement. The fund acquired the asset at end-December 2008 for EUR 23.5 mln.
Fondo Alpha was launched in 2002 to invest in commercial property in Italy and the rest of Europe. The vehicle, with a net asset value of EUR 416 mln, had a leverage of 22% at end-June 2009.