Italian real estate services group Prelios has been mandated to launch a new private fund on behalf of the Italian province of Cremona.
Italian real estate services group Prelios has been mandated to launch a new private fund on behalf of the Italian province of Cremona.
The vehicle, known as Eridano, will have an initial value of €40 mln, and will be fully controlled by the local government.
The fund is the third vehicle to be created by Prelios on behalf of Italian public authorities following the launch of the Turin City Fund and the Sicily Region fund. The fund is being set up to improve the performance of the assets.
Eridano owns a portfolio of 13 properties including trophy assets like the provincial headquarters, the renowned Palazzo Tinti Pallavicino Clavello. The fund has a term of 15 years.
