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Italy's Investire places €150M office portfolio on the market

Italian asset manager Investire Sgr is looking to sell a portfolio of six office assets in Rome, which market trackers believe to be worth about €150 million, PropertyEU reported.

The paper noted that Cushman & Wakefield has been tapped to market the properties individually or as a single portfolio to national and international investors.

The portfolio, known by its Project News moniker, features 42,000 square meters of space in the city center. Among the sites to be divested are three fully occupied assets that include a historical building at Quirinale, two partially leased properties and a 15,000-square-meter unoccupied building, which will be redeveloped into a residential scheme.

According to the Feb. 21 report, submission date of nonbinding offers for Project News will be due in a month, after which the broker aims to receive binding bids in July.