The Italian Ministry of Defence can trade its residential portfolio with local government properties. A new amendment introduced yesterday in the 'Finanziaria', the State annual financial budget, allows the Ministry, directed by Arturo Parisi, to get rid of military properties through an exchange with property owned by the local government.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
