Italian real estate company Prelios has announced that two of its funds sold properties in Rome and Palermo during December for a total of EUR 74 mln. In the largest of the two deals, Tecla, a listed fund managed by Prelios' fund management arm, sold a commercial property at via del Tritone 142 for EUR 42 mln.

The building comprises 5,400 m2 of space and is mainly used for public administration. The sale generated a gross capital gain of over EUR 10.8 mln (+34.8%) compared to the book value and was higher (+3.23%) than at market value as determinted by an independent expert at end-June 2011.

Separately, the Retail and Entertainment property fund managed by Prelios sold a 8,157 m2 property in Palermo. The investment volume of EUR 32.3 mln generated a gross capital gain of EUR 3.7 mln (12.9%) compared to the valuation at end-September last year.