Immobiliare Stampa, part of Italian lender Banca Popolare di Vicenza (BPVI) in administration, is understood to have hired Vitale&Co to manage the sale of around €400 mln in real estate assets across Italy.
The properties represent the entire real estate portfolio owned by BPVI which was put into administration in June last year.
The sale – one of the largest portfolio transactions to launch in Italy so far this year - is expected to start before the summer, according to well-informed market sources.
The portfolio includes over 200 buildings including two trophy buildings - BPVI's offices on Milan’s central Via Turati and on Rome’s Via del Tritone - as well as an office in Vicenza, in the Northern Veneto region and other buildings in the Veneto, Tuscany and Sicily regions.
The portfolio also includes the head office of bank Fineco in Milan’s Piazzale Loreto area.
A portion of the assets will be leased back to lender Intesa San Paolo which has become a minority shareholder in Immobiliare Stampa after taking over the performing part of the BPVI business last year.
