US-based investor Blackstone is acquiring two major commercial property assets in Northern Italy for more than €220 mln, PropertyEU has learned.
US-based investor Blackstone is acquiring two major commercial property assets in Northern Italy for more than €220 mln, PropertyEU has learned.
The US investor is understood to be in exclusive talks to buy Italian publisher RCS’ head office at Via Solferino in Milan for over €100 mln and has also signed a preliminary agreement to acquire the Franciacorta Outlet Village for a discount of nearly 20% to market value.
The deal, amounting to around €120-125 mln, is expected to close in September.
The asset in Rodengo Saiano near Brescia is owned by Aberdeen Asset Management which inherited it from Degi at the time of the acquisition of the German unit in late 2007.
According to PropertyEU's research data, Degi Grundwert-fonds invested €204 mln to buy the asset in January 2007. The complex is currently owned by the Degi Europa open-ended fund in liquidation and was last valued at €156 mln at end-March 2013.
The outlet centre, located 80 km from Milan and Verona, has 150 shops with a total lettable area of 21,700 m2. Tenants include Levis, Nike, Benetton and Calvin Klein.
