The Fondo Turismo 1 (FT1) was set up by CDPI Sgr on 14 June 2017.
FT1 came into operation on 14 June 2017.
Type: alternative closed-end property investment fund reserved for professional investors pursuant to Art. 6, paragraphs 2-quinquies and 2-sexies, of the Consolidated Law on Finance and the related implementation decrees, as well as to non-professional investors who can subscribe to units of reserved funds pursuant to Art. 14, paragraph 2, of Decree no. 30 of 5 March 2017 by the Ministry of Economy and Finance.
Mission: property investments in the tourism, hotel, hospitality and general leisure sectors.
Duration: 20 years, plus a possible extension not exceeding five years, to which three years may be added if, in consideration of the characteristics of the market or the characteristics and composition of the portfolio under management, it is not possible to complete the liquidation of the investments within the natural FT1 expiry date.
Scope of action: mainly assets located in the Italian Republic.