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Ardian to buy six Italian real estate properties

Ardian has agreed to acquire six Italian real estate buildings owned by real estate fund Cloe, which is managed by Prelios SGT. No financial terms were disclosed. The deal is the first investment in Italy made by Ardian Real Estate Europe Fund (AREEF) and follows the acquisition of Wappenhalle, the office and business park complex in Munich, completed in November 2016. Prelios SGR, the seller, is a leading real estate fund manager in Italy and manages 33 funds, with approximately €4bn of assets under management. The transaction consists in the acquisition of six real estate office buildings with an overall GLA of 91.000sqm, part of the Cloe fund which has been active since 2004. Three of the assets are located in Milan (Corso Italia 13, Via Washington 70, Strada 4 Palazzo A Assago), two are located in Rome (Via Colombo 80, Via V. Veneto 89) and a very small asset located in Bari. This core-plus acquisition is in line with Ardian Real Estate’s investment strategy, which is to focus on major cities in the Eurozone’s three largest economies – Italy, France and Germany – where Ardian already has an extensive background in direct private investment.


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