Caam Real Estate Italia, the manager of the closed-end property funds Caam Re Italia and Caam Re Europa, has agreed to sell a logistics platform in Basiano, near Milan, to an undisclosed investor. The transaction price of EUR 24.5 mln represents a 17% discount on the price Caam initially paid for the asset (EUR 29.5 mln). The transaction is expected to be completed within the next 30 days.
Caam Real Estate Italia, the manager of the closed-end property funds Caam Re Italia and Caam Re Europa, has agreed to sell a logistics platform in Basiano, near Milan, to an undisclosed investor. The transaction price of EUR 24.5 mln represents a 17% discount on the price Caam initially paid for the asset (EUR 29.5 mln). The transaction is expected to be completed within the next 30 days.
The property, which was jointly owned by the two funds, is currently vacant and provides around 38,000 m2 of logistics space. Jones Lang LaSalle acted for Caam Re.
Caam Re Italia and Caam Re Europa currently own 15 and 12 logistics assets respectively, of which five are jointly held.
