Colliers International Italy and real estate management network EXITone have signed a contract to advise Bank of Italy on the divestment of a EUR 300 mln portfolio of property assets.

The two advisory firms will work together in the ‘RTI consortium’ in relation to the sale. The 240,000 m2 portfolio consists of former bank branches and some residential units distributed throughout Italy. The portfolio includes prestigious buildings located in major Italian cities, the pair said.

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.

An international strategic committee in which the head of investments of the Colliers International group in London, Paris, Madrid, Amsterdam and Frankfurt will support RTI in defining the best sale strategies and guaranteeing the necessary visibility cross-borders, Colliers International said.