Italian pension fund Fondazione Enasarco said its board has approved the sale of the firm's entire real estate portfolio in a move aimed at improving the company’s balance sheet position. In a statement, Enasarco said it hopes to sell the assets over the next four years. The company's real estate portfolio consists of 481 residential and commercial buildings with a market value of some €3bn. The properties, which were acquired between the ‘70s and the end of the ‘90s , is mostly located in Rome. Enasarco said it is considering to sell the assets to a fund or to put the properties directly on the market.
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