Senior Fund has been established through the contribution of 12 real estate assets, mainly offices, belonging to INPDAP, for a contribution value of approximately € 100 mn, corresponding to a discount of ca. 15% on the asset by asset market value determined by the independent valuer of the Fund. The contribution, realized with a full equity structure, will be effective since april 2010 to grant INPDAP and FIMIT a more efficient technical/operational management of the real estate portfolio. The Fund has been created with the purpose of providing a wide range of services to the elderly population (70+). The offer developed by FIMIT is an instrument for:
- the development of innovative residential units geared to the specific needs of the self-sufficient elderly;
- the supply of services integrated with housing structures for the elderly;
- the management of medium- to long-term financing solutions, such as:
- life mortgage loans, with the opportunity for the lender to transfer the relevant credit to the Fund (pursuant to Italian law no. 248 of 2 December 2005);
- the acquisition of the ownership without usufruct of flats belonging to the over 70's.