Fondo Asci (70% F.I.A.): Social Housing Intervention at the Former Tobacco Factory in Perugia - via Cortonese

Milan, 22 July 2016 - Fondo A.S.C.I. (Abitare Sostenibile Centro Italia) - the real estate investment fund managed by Prelios Sgr and reserved for institutional investors, 70% represented by FIA (Fondo Investimenti per l’Abitare), the fund set up to promote and develop social housing initiatives, which is in turn managed by CDP Investimenti Sgr (Cassa Depositi e Prestiti Group) and Fondazione CR di Perugia - has completed the acquisition, on today’s date, of the largest portion of the former tobacco factory complex of the Agenzia Coltivazione Tabacchi, located on Via Cortonese, in the west of Perugia.

Fondo ASCI will convert the former tobacco factory into a complex of around 27,000 m2, which, in addition to the social housing units (62% of the total surface area), will include commercial and office units, residential property to be rented at market rates and a series of public services, including a kindergarten/nursery school. The 171 social housing units will be available under rent-to-buy and long term let arrangements, the purpose being to help solve the town’s housing shortage.

The development project includes a two-level underground car park for public and private use. The ground floor of the complex units will house administrative offices and a range of commercial businesses serving the local community, which will also benefit from two pedestrian squares created in the inner courtyard of the complex featuring green areas accessible to the whole community.

Fondo ASCI (Abitare Sostenibile Centro Italia) has been managed by Prelios SGR since 31 July 2015. It was set up to develop initiatives to help solve the housing shortage, with a specific focus on the social and housing needs of low-income families and individuals. Fondo ASCI’s current portfolio includes residential complexes and development projects in Central Italy.