US private equity firm Cerberus' Kona real estate fund has agreed the acquisition of 38 repossessed assets from UniCredit Leasing for an undisclosed amount.
US private equity firm Cerberus' Kona real estate fund has agreed the acquisition of 38 repossessed assets from UniCredit Leasing for an undisclosed amount.
The portfolio has a gross book value of around €205 mln.
The disposal is part of UniCredit Group's non-core portfolio divestment strategy aimed at strengthening the bank's credit profile. It will take place after the termination of leasing contracts on the properties.
Four of the assets were co-owned by Intesa Sanpaolo's Mediocredito Italiano business finance unit.
Unicredit was advised by Ernst & Young and Ashurst. Kervis Asset Management and Chiomenti acted for Kona.
