Central Sicaf, a company managed by French property group Covivio, has completed the sale of a portfolio of eight mixed-use assets to AP Wireless Italia InfraRe, a subsidiary of Radius Global Infrastructure. 

centraline

Centraline

The package changed hands for €58 mln, roughly the same price that the landlord paid to purchase the assets.

The disposal, which is part of Central Sicaf’s portfolio rationalisation strategy, involves eight properties leased to a major telecoms operator and located in urban centres in central and northern Italy.

BNP Paribas Real Estate Advisory Italy brokered the deal.  ‘The transaction confirms the strong interest of international investors specialized in technological properties with high strategic value,’ the broker said.
 
With a portfolio of €1.4 bn, Central Sicaf is a subsidiary of Covivio created in early 2017 through the transfer of the group’s Telecom Italia portfolio. Covivio inherited the properties as part of its acquisition of Beni Stabili in Italy.