Primonial REIM finalised the acquisition of a portfolio of commercial assets, made up of six assets across six Italian towns, principally in the Lombardy region. This operation was carried out via a vehicle managed by an Italian regulated management company on behalf of an alternative investment fund (FIA) managed by Primonial REIM.
“The assets of the portfolio represent a total surface area of around 8,200 sq m and benefit from a commercial offer which meets the specificities of each catchment area, fully operated by an Italian retailer with a European presence and a leader in its chosen market of mixed ready-to-wear fashion, states the press release. This acquisition is part of Primonial REIM’s investment diversification strategy, with a particular focus on strong development in the Euro zone”.
The total investment amount is approximately €20 million.
For this transaction, Primonial REIM has been advised by the law firm DLA Piper (Mr Paolo Foppiani), assisted by REEAS with technical due diligence and guided by Element Real Estate(Charles Haezebrouck) in the research and completion of investments in Italy.
Press release in PDF format: 20171106 – CP Primonial REIM acquires a commercial portfolio in Northern Italy