Central Sicaf, a company managed by French property group Covivio, has finalised the sale of a portfolio of 16 properties in Italy to an international investor for €91.3 mln.
The transaction involved the sale of mixed-use properties, currently leased to a leading telecommunications operator.
Marco Bignami, CEO of Central Sicaf, said: ‘This transaction allows Central Sicaf to take another important step towards the implementation of its strategy to rationalise its real estate portfolio. The transaction also confirms how income property investment is a useful inflation-protection vehicle, as demonstrated by the high interest of global investors even in the changing macroeconomic environment.’
The latest sale is part of Central Sicaf’s portfolio rationalisation strategy of its real estate portfolio, based on an index of priorities such as keeping the objective risk/return profile constant.
In other deals signed since the beginning of 2022, Central Sicaf has divested mixed-use properties throughout Italy worth a total of €146.1 mln in addition to telecom infrastructure sites.
Milan-based Central Sicaf currently has around €1.2 bn in real estate assets under management, almost all on long-term leases to Telecom Italia.