FIP office portfolio
Italy - Offices
- The FIP portfolio of 9 office buildings was acquired in an off market deal in December 2015.
- All assets are fully let to the Italian state with 7 years WAULT.
- 70% of portfolio is located in the key Italian cities of Milan, Florence and Rome.
- The remainder of the portfolio is located in key regional cities with good liquidity from private investors.
- The portfolio is characterised by assets where Italian government bodies have been in occupation for a long period of time and therefore represent core parts of their estate. Typically the assets are in strategic locations in the city with values underpinned by their long term re-development potential or suitability for alternative uses.
- We anticipate selling some of the smaller properties over time and working up asset management plans to re-gear leases with reversionary potential in the larger properties and progress re-development plans, most notably for the Milan Valtellina site.
Via F. Petrarca, Arezzo
Via Carcani, Rome
Piazza Europe, La Spezia
Viale Belfiore, Florence