Italian asset manager Castello SGR has acquired a nine-asset commercial portfolio for €21.5 mln from Finleonardo, comprising properties located in Central & Northern Italy.
The purchase, carried out through one of its funds, sees Castello acquire a fully let portfolio covering around 11,000 m2 of gross leasable area.
All of the assets are leased on terms with a weighted average maturity of approximately three years. The properties include office and retail buildings.
Independent player Castello specialises in real estate investment in closed-end funds, created by a group of institutional investors. Its business model includes asset enhancement and value creation through active asset management.
