Following a public call for tenders, Invimit SGR − an asset manager of the Italian Ministry of Economy & Finance − has selected Prelios Integra, a company in the Prelios Group and the leading provider of integrated property management services for the real estate sector in Italy, as Property Manager for the "Fondo i3-INPS" real estate fund.
The purpose of the engagement is to enhance the i3-INPS fund’s real estate investments through direct management of all administrative and technical questions relating to its property assets.
Daniele Barni, Head of Property Management at Prelios Integra, said: “We are delighted to be able to contribute, through our Property Management mandate, to the enhancement of the fund’s real estate assets by making their management more efficient. The agreement is further confirmation of Prelios Integra’s leadership capabilities as a specialist partner for the management of the entire life cycle of property assets.”
i3-INPS is a closed-end fund for professional investors, set up for a maximum duration of 20 years, to which properties owned by the INPS national insurance institute and the Italian State are contributed, which invests chiefly in income-earning properties or properties for sale. So far, 56 properties have been contributed to the fund, for a total value of approximately 200 million Euro; INPS properties up to a maximum overall value of approximately 800 million Euro will gradually be transferred to the fund.