The Real Estate Investment Funds in Italy are made up of real estate assets divided into a defined number of units, subscribed by investors, known as unitholders.
The properties are purchased according to the strategic lines of the fund: commercial properties, telephone exchanges, buildings for office or residential use, areas to be built or complexes to be redeveloped; another method of choice is represented by a specific geographical area previously identified and in which to invest.
The Real Estate Funds are therefore closed-ended with predetermined assets.
Unitholders can collect their units to get back the capital invested, plus any capital gains or negative changes in the value of the units, that is the difference between the market price at the entry and exit of the fund .
The minimum duration for real estate investment funds is ten years, the maximum can even reach thirty years.
During their life, the Funds proceed to valorise and transfer the properties. The transfer envisages, on the basis of predefined strategies, to sell the properties in different stages, individually or in bulk.
Expertise Re is particularly specialized in the sale of assets from real estate investment funds and is an accredited partner in most asset management companies.