The package includes largely offices in Milan, Rome, Florence and Padoa and is believed to be worth some €350 mln.

MPS Bank

MPS Bank

Ardian Real Estate said on Friday that it has sealed the acquisition of a portfolio of 28 properties across Italy from local lender MPS.

Earlier this month Ardian emerged ahead of rival bidder Blackstone in the running to acquire the 90,000-m2 package which is worth some €350 mln.

The portfolio, which was put on the market last July through adviser Duff & Phelps Reag, comprises five trophy assets such as a historic property at Rome's via del Corso, two offices in Florence's city centre, and MPS' historic head office in Milan's via Santa Margherita 11.

‘These five prestigious buildings will be the subject of redevelopment which will aim to create office and retail space,’ Ardian said in a statement.
 
Closing of the deal is expected for the second half of 2020.
 
‘Our investments in Italy in the real estate sector, now rise to around €1 bn and positions us among the most active players in the Italian market,’ says Rodolfo Petrosino, senior managing director Southern Europe of Ardian Real Estate.

‘This is largely due to the skills and experience of our local team and Ardian’s international platform. We have already made significant investments in Italy and we will continue to select promising opportunities in the core-plus and value-added real estate segment.’