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Blackstone, 800 million for Italian state real estate

According to Il Sole 24 Ore, the US giant led by Stephen Schwarzman would aim to buy some Italian state properties attributable to the Fip portfolio – Blackstone's offer would be 800 million euros, but there is competition from Cerberus.

Blackstone, 800 million for Italian state real estate

Blackstone would have targeted hundreds of millions of properties belonging to the Italian state. The indiscretion was reported by Il Sole 24 Ore, according to which the US financial giant is aiming to buy, among other things, ministerial offices, barracks and offices of the Guardia di Finanza. All properties that are part of the portfolio of the Fip (Public Property Fund), managed by Sgr Investire Immobiliare (the company controlled by Banca Finnat of the Nattino family).

There are therefore about twenty Fip properties on the market that Blackstone would like to buy for a total of around 800 million euros. To compete with the US fund there would, however, be another private equity star and stripes: Cerberus, which would like to buy part of the portfolio for 300 million euros.

As for Blackstone, the giant led by Stephen Schwarzman has closed many deals in Italy in recent months, among which the purchase of the Corriere della Sera building in via Solferino for 120 million euros stands out. Last February, the American group also launched a takeover bid on the listed real estate fund Atlantic 1, managed by Idea Fimit.

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