Investietico purchases property for use as healthcare facilities for €24.5m (IT)

Investietico, a closed-end property fund managed by AEDES BPM Real Estate SGR S.p.A., which has been listed since November 1, 2004, signed on November 27, 2007 a preliminary agreement to purchase healthcare property for €24.5 million. The agreement will be finalized in January 2008.

The property in question, which was sold by Polo Geriatrico Riabilitativo S.p.A. of Milan, is located at Via San Faustino 27 and covers a gross area of approximately 10,000 m², inclusive of the area devoted to services. Moreover, lease contracts have already been entered into, effective January 2008.

The preliminary agreement calls for a payment of €24.5 as well as a call option for the seller to be exercized by the end of the expiring date of the fund for a strike price set at €27 million.

Following this transaction, Investietico has now 11 properties in portfolio, for a total asset value of over €220 million. The acquisition of these healthcare buildings fits the growth strategy of the Investietico fund, which focuses on that sector, especially in certain cities of Lombardy.

Source: Aedes BPM Real Estate

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