Securfondo, is an alternative closed-end real estate investment Fund, reserved to both private and qualified investors, established in 1999 and with an original duration of 15 years (expiry date 31st December 2014) + 3 years extension option (the so called “grace period”).
On 18th December 2013, the Board of Directors of the former Beni Stabili Gestioni SGR, with the positive opinion of the Board of the Statutory Advisor, approved the liquidation of the fund’s portfolio and extended the Fund’s life for the 3 years grace period (31st December 2017).
Moreover, on 10th December 2014, the Unitholders Meeting, as per art. 2-bis of the Fund Management Rule and pursuant to art. 22, clauses from 5-bis to 5-nonies of Law Decree 91/2014 enacted with amendment by Law 116/2014, positively deliberated the change to the By Laws to allow the extraordinary extension of the fund’s life for additional 2 years for the sole purpose to complete the divestment process of the real estate portfolio.
The original equity of the Fund (€ 150,000,000) has been raised “by cash” among investors through the placement of 60,000 units with a nominal value of € 2,500 each.
Securfondo has invested in residential, office, logistics, retail and leisure buildings in Italy. As of today, the Fund’s portfolio includes office buildings in Bologna, Modena and Turin, a building for mixed uses in Fiumicino (RM), retail buildings in Naples and Lodi, a residential building in Milan and an hotel in Casteldaccia (PA)
Since 5th February 2001 the units of Securfondo have been listed on the MIV segments of Milan Stock Exchange dedicated to closed-end funds.