Foncière LFPI Italia has completed the acquisition of a portfolio of 13 properties leased to bank Unicredit and located across Italy for a price of just over €70 mln.
Foncière LFPI Italia has completed the acquisition of a portfolio of 13 properties leased to bank Unicredit and located across Italy for a price of just over €70 mln.
The portfolio comprises a total of 22,649 m2 of space and was bought from the Omicron Plus Immobiliare real estate fund, managed by Idea Fimit sgr.
The package includes historic offices and bank branches dating back to the XIV and XVI century, located in the cities of Vicenza, Lucca, Piacenza, Florence, Pordenone, Catania, and Forlì. The properties are leased with an 18-year rental contract, renewable for a further six years.
With the purchase Foncière LFPI Italia significantly expands its Italian business which is led by Stefano Keller and generates returns of over 7%, the company said in a statement.
JLL advised IdeaFimit on the deal. The buyer was advised by law firm NCTM, Avalon Real Estate, Maria Nella Palandri and Raynaud & Partners.
