The portfolio of 131 properties, with a total surface area of 207,000 square meters, is mainly located in the north of Italy. The portfolio is to be managed by Pirelli RE based on the companyâs tried-and-tested business model. This involves taking significant minority stakes in joint ventures that invest in real estate, which is then managed by the Company.
The acquisition was financed by a pool of banks, led by Royal Bank of Scotland and UBM.
Glenbrook Operae srl was advised by the Gallavotti Honorati & Pascotto legal practice. Freshfields Bruckhaus Deringer acted as legal advisor to the joint venture that acquired the properties.
Morgan Stanley acted as sole advisor to MSREF.
Source: Pirelli RE