Prelios launches Italian real estate fund
Prelios SGR, an Italian real estate fund and asset management firm, has launched the Madison Imperial fund, fully subscribed by a foreign institutional investor.
The real estate alternative investment fund (AIF), which has a term of seven years, has finalised the acquisition of Meucci in Liquidation , a portfolio of 57 properties, mainly consisting of telephone exchanges, which are leased to Telecom Italia S.p.A.
Andrea Croissants, chief investment officer at Prelios SGR, said the company is committed to supporting primary foreign institutional investors through “the creation and management of products that promote investments in the sector and contribute to make the Italian real estate competitive “.
Prelios was advised by the law firm Orrick on the creation of the fund and the acquisition of the portfolio.