Dils has assisted a Fund reserved for professional investors – managed by DeA Capital Real Estate SGR S.p.A. – in the sale of a portfolio of 10 properties located in some of Italy’s key cities.
The assets, with a total area of over 27,000 sqm, are used as bank branches and offices and are entirely leased to one of the most important Italian banking groups. The properties are located in Campania (Naples and Capri), Abruzzo (Pescara), Marche (Ancona), Emilia Romagna (Ravenna, Reggio Emilia, Ferrara), Veneto (Vicenza, Treviso), and Lombardy (Lecco).
The deal involved the signing of a deed of sale for the 3 units located in Pescara, Treviso and Vicenza and, at the same time, the signing of a preliminary contract for the remaining 7 assets.
This deal confirms the growing interest of institutional investors in the Italian real estate market, even for assets in secondary locations, that provide secure income streams with stable contracts backed by tenants with strong credit ratings. Indeed, these assets represented an excellent opportunity to purchase income producing properties in locations with strong fundamentals.