Prelios Finalizes Sale of Crescenzago Complex to SCPI
Deal News | Feb 11, 2025 | Finance Community IT - 3 Private Equity
Prelios SGR, a prominent Italian asset management company, has completed the sale of a major real estate asset located in the Crescenzago district of Milan. The complex, consisting of three buildings with extensive underground parking, has been sold to SCPI Transitions Europe, a French institutional fund managed by Arka REIM. This transaction marks the fulfillment of Prelios SGR's strategic plan to liquidate the assets of its Fondo Cristoforo, a real estate fund focusing on office properties in prime Italian locations. The portfolio has been enhanced through targeted value-added strategies, including lease renewals and property upgrades, culminating in the disposal of assets in both Rome and Milan. Commercial and legal aspects of the sale were handled by Dils, Vitale&Co. Real Estate, and Clifford Chance, respectively. Nicola Sajeva, head of asset & development management at Prelios SGR, highlighted the successful management and disposal strategy that leveraged the company's real estate expertise in a challenging market.
Sectors
- Real Estate Investment Management
- Corporate Finance
- Legal Advisory
Geography
- Italy – The primary location of the real estate asset is in Milan, Italy, where Prelios SGR operates the Fondo Cristoforo.
- France – The buyer, SCPI Transitions Europe, is a French institutional fund, indicating cross-border investment activity.
Industry
- Real Estate Investment Management – The article centers on the management and sale of real estate assets by Prelios SGR, a company specialized in investment management in real estate.
- Corporate Finance – The transaction involves strategic asset disposal and financial expertise in managing the assets to achieve a successful exit.
- Legal Advisory – Legal aspects of the transaction were managed by Clifford Chance, highlighting the involvement of legal advisory in the completion of the deal.
Financials
- – The financial details of the transaction are not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Prelios SGR | Seller | Company | Prelios SGR is the asset management company responsible for selling the Crescenzago complex. |
| SCPI Transitions Europe | Buyer | Company | A French institutional fund managed by Arka REIM that acquired the Crescenzago complex. |
| Dils and Vitale&Co. Real Estate | Commercial Advisor | Company | Handled commercial aspects of the transaction. |
| Clifford Chance | Legal Advisor | Company | Provided legal and tax advisory services for the transaction. |
| Nicola Sajeva | Spokesperson | Person | Head of asset & development management at Prelios SGR, commented on the transaction. |