GRR GARBE Italy and Intermediate Capital Group (ICG) have acquired all of the units of the reserved alternative real estate investment fund called ‘Retail Partnership’, managed by BNP Paribas Real Estate Investment Management Luxembourg, which owns a portfolio of 22 food retail properties, including 7 hypermarkets and 15 supermarkets.
The complex transaction also entailed the signing of a new ultra-nine-year lease agreement for the entire portfolio to Coop Alleanza 3.0, as well as the extinguishment of the previous financing of the ‘Retail Partnership’ fund and the signing of a new financing agreement for the fund with Natixis Corporate & Investment Banking.
Our firm advised BNP Reim Lux with partners Alessandro de Botton and Marco Laviano and associate Francesco Manghisi.