From Invimit Sgr offer for six disused buildings to be transformed into social and student housing

Six long-disused buildings, owned by funds managed by Invimit, are the subject of a proposal by a leading market asset management company to be converted into social housing/student housing.

The properties (a former barracks, a residential building and 4 public offices), for which various forms of commercialisation had been sought in the past, are located in Novara (in via Claudio Monteverdi 4), Cremona (in via Dante 23), Turin (in via Bligny 7), Forlì (in Piazzale della Vittoria 6), Alessandria (in via Luigi Testore) and Padua (former Caserma Romagnoli in via Chiesanuova) and are owned by Fondi i3 Inps, i3 Inail and Fondo i3 Sviluppo Italia Comparto 8 Quater.

The transaction is part of Phase Two of the REgenera Mission, which envisages the valorisation of the properties through the contribution to a Real Estate Fund managed by the proposing Sgr, with the attraction of cash from other investors in partnership with Invimit. The contribution value, the duration of the fund and the management regulations will be negotiated with the winning company once the procedure has been completed. By 16 October it will be possible for other possibly interested sgr's to submit improved offers for the entire package of the 6 properties in question, which are consistent with the social value destination currently envisaged.

REgenera is Invimit Sgr's strategic mission dedicated to the regeneration of disused or underutilised public real estate assets, which currently consists of a portfolio of 31 properties throughout Italy, 10 of which are awaiting development proposals. On the company website it is possible to find all the information on the properties and how to submit bids.