Beni Stabili signs major agreement to extend the partnership with Telecom Italia (IT)

Beni Stabili SpA Siiq approved the finalization of a framework agreement with Telecom Italia S.p.A. in order to extend and enhance the real estate and rental partnership in place since 2000 on the “Imser” real estate portfolio.
The Imser portfolio was purchased by Beni Stabili in 2000 following a sale & leaseback deal on 227 assets sold by Telecom Italia with lease agreements expiring in November 2021 (first break-option date) and it is currently consisting of 158 assets worth around €1.7 bln and generating some €117 mln annualized rents.
The Framework Agreement involves 149 properties out of the 158 currently rented by Beni Stabili to Telecom Italia, representing around 94% of the value and of the rental revenues of the Imser Portfolio.
Source: Beni Stabili