Pirelli Real Estate is launching the first private fund focused on Italy's Sicily region. The closed-end Fondo Immobiliare Pubblico Regione Siciliana (FIPRS) will be managed by the Italian real estate giant. The portfolio consists of 34 properties, valued at EUR 263 mln, which the Sicilian region and some regional institutions provided. The term set for the fund is fifteen years.
Private asset management company Kryalos has completed the acquisition of a light industrial property in Rome, through its Mars fund.
