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Beni Stabili Aquires a 118 mln portfolio in Milan from Creval

Posted: 8 June 2017

Beni Stabili signed a preliminary agreement to acquire a portfolio of core banking offices from the Credito Valtellinese Group (Creval) through a sale and leaseback transaction.

The portfolio consists of 17 properties (including 2 long-term leasehold rights) that will be leased-back to entities belonging to the Credito Valtellinese group by virtue of double-net lease agreements with minimum durations varying between 9 and 12 years (besides a 6-year extension option at the hand of the tenant).

The portfolio value is €118 mln