Pirelli RE may buy HVB property funds

By A staff reporter 2007-01-15T00:00:00+00:00

Pirelli Real Estate and another unidentified fund are bidding for two property funds currently owned by the Unicredito Italiano's German unit HypoVereinsbank, Italian newspaper IlSole24Ore reported on Sunday. The combined value of the funds is estimated to be about EUR 2.5 bn.

Pirelli Real Estate and another unidentified fund are bidding for two property funds currently owned by the Unicredito Italiano's German unit HypoVereinsbank, Italian newspaper IlSole24Ore reported on Sunday. The combined value of the funds is estimated to be about EUR 2.5 bn.

Pirelli RE is a property management company led by ceo Carlo A. Puri Negri. The group manages 12 real estate funds for a total value of about EUR 6.7 bn.