RTI (Consortium) to divest real estate portfolio owned by Bank of Italy (IT)

The RTI (Consortium) Colliers International Italia – EXITone has signed a contract to provide advisory services for the divestment of a real estate portfolio owned by Bank of Italy. The portfolio, whose value amounts to over €300 million, consists of former bank branches and some residential units distributed throughout Italy, with a total surface area of ca. 240,000 m². Among the assets are some prestigious buildings located in major Italian cities.

The public tender, published in May 2010, entails a three-year agreement during which Colliers International Italia and EXITone will have to promote the sale of the Bank of Italy portfolio.

The activities involved in the divestment process will be carried out with the highest operational standards in terms of transparency and in respect of the international certifications ISO 9001, ISO 14001, OHSAS 18001, ISO/IEC 27001 and SA8000 owned by Colliers International and EXITone.

Involved in the operation will be an international strategic committee in which the head of investments of the Colliers International group in London, Paris, Madrid, Amsterdam and Frankfurt will participate with the objective to support the RTI (Consortium) in defining the best sale strategies and guaranteeing the necessary visibility cross-borders.

Additional guarantees with regard to the technical side of the operation, will be ensured by the controls that will be carried out by Organismo di Ispezione EXITone S.p.A, Italy's first and only accredited body that complies with ISO/IEC 17020, the internationally recognized standard for real estate Due Diligence and Valuation services.

The representatives of the RTI (Consortium), Ofer Arbib for Colliers International Italia and Ezio Bigotti for EXITone, express their highest satisfaction with this important result, commenting: "We hope that the definition and management of the sale plan of this portfolio will receive adequate and qualified feedback from institutional investors and market operators and could combine the objectives of divestment related to the process of resources rationalization carried out by Bank of Italy with the trigger of local development circuits."

Source: Colliers International

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