GWM Group has acquired two office buildings located in Milan via its Pegasus real estate fund in a lease-and-saleback deal from French car maker PSA Peugeot Citroën.

GWM Group has acquired two office buildings located in Milan via its Pegasus real estate fund in a lease-and-saleback deal from French car maker PSA Peugeot Citroën.

Financial details were not disclosed. The two office buildings are located in Milan, in Via Gattamelata and Via Gallarate.

The acquisition is the first undertaken by Pegasus, a real estate fund incorporated under Italian law and managed by Investire Immobiliare Sgr. The fund aims to invest €250 mln on behalf of clients and foreign institutional investment funds managed and/or advised by GWM Group.

London-based GWM has reportedly teamed up with US-based asset manager Pimco to amass a €1 bn portfolio in Southern Europe within the next three years .