(Finance) – The Board of Directors of Fabrica Immobiliare SGR, meeting today, approved the interim management report to 30 September 2023 of Fund “Socrates – Common Fund of Closed-end real estate investment”.
During the third quarter of 2023, the SGR is continuing to pursue the objective of divesting assets under the best possible conditions in relation to the market situation, always keeping the transparency of the disposal process and the maximization of sales values as guidelines.
Administrative and technical management of properties always remains oriented: to search for conductors for vacant portions; at the renegotiation of rental contracts expiring and/or regularizing pending situations; to monitoring payments of the rents by the tenants in order to highlight the expired credits and the related ageing, and to implement the necessary recovery actions for the credits claimed; to the activities of verification and regularization of assets real estate; to the activities of enhancement and/or extraordinary maintenance of properties, in view of future disposals.
The real estate portfolio of the Fund is mainly leased, with a total annual rental amount equal to approximately 4.6 million euros (5.7 million euros as of 30 June 2023).
The liquidity of the Fundavailable on your current account as of 30 September 2023, is equal to approximately 11.21 million euros (10.28 million euros as of 30 June 2023), of which 3.71 million euros available in current accounts at State Street Bank International Branch Italy and 7.5 million euros invested in time deposits at the Banca Nazionale del Lavoro, in order to increase the return on the Fund’s temporarily uninvested liquidity.
(Photo: © Andrii Yalanskyi | 123RF)