Generali acquires office building in Ljubljana

Generali Investments' Generali Adriatic Value Fund II has signed an agreement to acquire the Schellenburg office building in Ljubljana, Slovenia, from Reitenburg Objekt.

Schellenburg

The purchased area spans 7,860 square m2, much of which is already leased long-term.
The deal, unofficially valued at around €30 mln, will be finalized pending necessary permits.
The Schellenburg office building is located in a prestigious location in the centre of Ljubljana, with excellent transport connections.
This marks the first acquisition for the Generali Adriatic Value Fund II, a real estate alternative investment fund targeting €80 to €100 mln in assets. The fund plans to invest in commercial, retail, logistics, and accommodation properties in Slovenia and Croatia, catering exclusively to institutional and professional investors.
Melita Rajgelj Ozebek, president of the Management Board of Generali Investments, commented: "We are pleased to have signed the agreement on the first purchase of commercial real estate for our new real estate fund Generali Adriatic Value Fund II, thus continuing the success story of alternative real estate funds. This is the first acquisition in a wider portfolio of similar investments in the region, which promises stable returns for investors in the fund in the future."
In April, Generali Adriatic Value Fund sold the Stakleni Dvor and Tivoli Center office buildings in Ljubljana, marking the second and third property divestments for the fund.