BENI STABILI SPA Acquisition of two Towers in the Milan Procaccini Center

Transparency directive : regulatory news

28/07/2016 17:49

Acquisition of two Towers in the Milan Procaccini Center

Milan - July 28th 2016: Today Beni Stabili has completed the purchase of Tower
A and Tower C of the Procaccini Center in Via Messina 38, Milan. Now the
Company owns the entire center, having Tower B and Tower D already in its
portfolio.

The property benefits of an excellent accessibility through the proximity of
the "Cenisio" tube station, along M5 lines (Lilla line), as well as different
above-ground public transportation options. The main Railway Station, Porta
Garibaldi, is just 15 minutes away.

Investment of EUR 26.4 million:

Both towers, being sold by the Italian Real Estate fund" Valore Immobiliare
Global" managed by Castello Sgr, count 11,800 sqm of GLA and are part of the
same complex where Beni Stabili owns other two towers (Tower B and D). The
acquisition allows the Company to own 100% of the complex.

The two towers have been built in the early 90's and each of them is made of 10
floors above ground, a basement hosting meeting rooms and IT equipments, and
two underground floors used as storage space and car park.

Tower "A" has been completely refurbished in 2014 and transformed in an hotel.
Today it is fully occupied by B&B Hotel (3- Stars) under a lease agreement
which will expire in December 2034 (1st expiration date). The hotel has 121
rooms, one meeting room with 30 seats and an indoor car park.
Tower "C" is a multitenant office property. The building currently has an
occupancy rate of 61% and Beni Stabili planned an investment strategy for about
EUR3 million aimed to fully lease the building and to increase energy
efficiency, in line with the strategic goals of the Company which expect a 50%
of portfolio as "green buildings" by the year 2020.
The closing price of EUR 26.4 million benefits of a reduction of about EUR 0.4
million compared to the preliminary agreement as a result of costs to adapt the
technical systems to the current standards in charge to the seller which will
be sustained by the Company.
The investment will allow Beni Stabili with additional EUR 2 million potential
rents per year and a potential yield of 6.8%.

"This acquisition is totally coherent with Beni Stabili's strategy to further
increase and strengthen its exposure in the Milan real estate office market.
The investment will also guarantee a full control of the overall complex
allowing its full valorization. " said Alexei Dal Pastro, General Manager of
Beni Stabili.

For more information:

Beni Stabili Siiq
Investor Relations -
Francesca Perani - +39.02.3666.4682 - francesca.perani@benistabili.it
Media Contact -
Barbara Ciocca - + 39.02.3666.4695 - barbara.ciocca@benistabili.it

SEC and partners Srl
Matteo Steinbach - +39.346.1063989 - steinbach@secrp.it
Michele Calcaterra - + 39. 335.461985 - calcaterra@secrp.it

Beni Stabili Siiq, a leading property company in the Italian real estate
sector

Beni Stabili is the leading property player in the Italian real estate market
with total assets of 4.0 bn euro. Our assets portfolio is sited in key
locations of North and Central Italy's major cities and consist mainly of
offices. We pursue the appreciation of our assets to increase profitability and
create value for our clients, partners and shareholders.

As a major player in office investment and development, we foster pioneering
solutions to improve the environmental performance of our buildings for the
well-being of our clients' employees. With this is mind we are developing in
Milan a new business area dedicated to smart working: Symbiosis.

Beni Stabili is listed on the Milan and Paris Stock Exchanges and operates
through its main offices of Milan and Rome. Beni Stabili belongs to the
Foncière des Régions group, a leading real estate player in Europe who owns
and manages an 18bn euro portfolio located in the most attractive metropolitan
cities of France, Germany and Italy.

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21/12/2018 14:57

BENI STABILI SPA Acquisition of two Towers in the Milan Procaccini Center

Transparency directive : regulatory news

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