Net lease-focused real estate investment trust (REIT) WP Carey has acquired a €71m portfolio of electricity grid service and maintenance hubs across Italy, leased to electricity company Enel.
WP Carey said the 35 hubs were acquired in August 2025 through a real estate fund managed by Savills Investment Management, in which the NYSE-listed REIT is the investor.
The properties are subject to net leases with a weighted average term of 12.4 years and feature CPI-linked rent increases.
Jolette Persson, senior vice president of European investments at WP Carey, said: “This investment illustrates our long-term conviction in mission-critical real estate and demonstrates our ability to offer certainty of execution for complex transactions – a key differentiator in today’s market.
“We’re thrilled to partner with a market-leading operator like Enel while supporting the backbone of Italy’s energy grid.”
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