Osborne Clarke advises on €85 million logistics portfolio investment

M&G Real Estate has acquired a logistics portfolio consisting of three assets from Principal Real Estate Asset Management, for a total value of approximately €85 million.

The three logistics assets, located along the main north-south route and with excellent access to the Milan metropolitan area, have a total surface area of over 110,500 square metres and are leased to national and international logistics operators. The transaction was completed through the sale to M&G Real Estate of 100% of the shares of a SICAF (investment company with fixed capital) that owns the logistics assets. DeA Capital Real Estate SGR has been entrusted with the management of the SICAF.

Osborne Clarke assisted the SICAF, originally owned by Principal Real Estate Asset Management, in preparing the contractual and financial documentation relating to the closure of the existing loan and the release of the related guarantees with a team led by partner Andrea Pinto, assisted by associate Ugo Marchionne.