Curzon/IXIS AEW Europe acquires €247m portfolio in Italy (IT/UK/FR)

Curzon Global Partners / IXIS AEW Europe has acquired a portfolio of 308 assets with a total value of €247 million on behalf of European Property Investors L.P. from a joint venture between Morgan Stanley Real Estate Funds (MSREF) and Pirelli RE.

The portfolio consists of 256 telephone exchange assets leased to Telecom Italia and 52 office and residential assets, totalling over 330,000 m².

The transaction was completed through an innovative structure, represented by the contribution of assets and related financing from the Raissa Fund, managed by Pirelli RE Opportunities SGR and two SPVs owned by the joint venture, to IXIS Asset Management Italia SGR.

Source: Curzon/IXIS

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