Property

The Alpha Fund real estate assets are mainly offices concentrated in major cities and diversified by geographical areas to take full advantage of the different property cycles while minimizing the variability in returns from rental and sales contracts.
As at the end of 2009, fund properties included 19 real estate assets (not including the property owned by the subsidiary “Da Vinci s.r.l.”) for a total value of ca. 476.0 million euros.

The real estate assets of the Fund are leased to public administration bodies or to first class private lessees.

Since the contribution date, the SGR has carefully managed and maintained its real estate portfolio, in order to create value from the assets, to improve relations with lessees and to maximise the returns for unit holders.