Italian asset manager Kryalos has acquired Banca Intermobiliare (BIM)'s real estate portfolio valued at €145 mln for nearly €53 mln in cash.
The acquisition is earmarked for Kryalos' Perseus fund.
The price, in addition to the assumption of debt linked to the assets, is in line with the latest appraised value for the properties.
The portfolio includes 10 assets in Bologna, Rome, Sarmato (Piacenza), Turin, Milan, Cuneo and Arzachena.
BIM, which is largely owned by Trinity Investments, launched the sale of its property portfolio in July this year.
The package was owned partly directly and partly indirectly through its Symphonia SGR, BIM Immobiliare and Paomar Terza units.
