Beni Stabili sells 29 properties from Comit Fund portfolio to Operae Group (IT)

Beni Stabili has signed a preliminary agreement for the sale of 29 properties from the Comit Fund portfolio to the Operae Group. The total sale price is €121.5 million, compared with a book value of €107 million.

The parcel sold consists of 29 properties, 66% for office and 44% for retail use, located primarily in Milan and Rome (51% and 22%, respectively ).

The parcel of properties forms part of the "non-residential" segment of the Comit Fund portfolio acquired last 13 July, for a book value of €806 million, which following this sale will be reduced €699 million.

"The sale is in line with the strategy adopted with regard to the purchase of the former Comit Fund portfolio," commented the Group's joint Managing Directors, Aldo Mazzocco and Massimo de Meo. "This aims to maintain ownership of the core assets and dispose as quickly as possible of those that do not provide a good match with the Group's investment criteria."

Source: Beni Stabili

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