Tecla Fondo Uffici is the first private seeded real estate fund in Italy and is managed by Pirelli RE SGR.
Tecla, a fund specialized in commercial/office assets, has a duration of seven years and targets primarily retail private investors.
The real estate portfolio at the time of placement was comprised of 66 properties covering a total of more than 521 thousand sqm with an estimated market value at 31 October 2003 of more than €950 million.
Tecla’s key points include:
The SGR’s remuneration policy calls for, in addition to the management fees, a performance fee based on whether or not the Fund achieves certain returns. Based on the information available, the SGR believes that the performance fee objectives are reasonably obtainable. Furthermore, achievement of these targets also depends on future, uncertain events which are largely beyond the control of the SGR and, therefore, the Fund’s results may differ, even significantly, from the targeted returns.
Direct access to the websiteTecla Fondo Uffici
Tecla, a fund specialized in commercial/office assets, has a duration of seven years and targets primarily retail private investors.
The real estate portfolio at the time of placement was comprised of 66 properties covering a total of more than 521 thousand sqm with an estimated market value at 31 October 2003 of more than €950 million.
Tecla’s key points include:
| - | Real estate portfolio identified and valued at the time of placement |
| - | Stable profitability of the properties from the moment of their contribution thanks to the high number of rental contracts with an expiration date in excess of the fund’s duration |
| - | Quality real estate portfolio, located primarily in the central or semi-central areas of the most important urban centers |
| - | Innovative corporate governance which ensures transparent decision making processes and investor involvement |
| - | No shares subscription fees |
| - | SGR’s annual fee below market average |
| - | High quality professional management attested by the dedicated team’s track record |
The SGR’s remuneration policy calls for, in addition to the management fees, a performance fee based on whether or not the Fund achieves certain returns. Based on the information available, the SGR believes that the performance fee objectives are reasonably obtainable. Furthermore, achievement of these targets also depends on future, uncertain events which are largely beyond the control of the SGR and, therefore, the Fund’s results may differ, even significantly, from the targeted returns.
Direct access to the websiteTecla Fondo Uffici