Milan – 12 July – LAWFUEL – The Law News Network – Global private equity company The Carlyle Group and Operae S.p.A. today announced that they have completed the purchase of a 26-building portfolio from Beni Stabili Group, for €255 million.
DLA Piper Rudnick Gray Cary (“DLA Piper”) advised Carlyle on the structuring of the deal and the tax aspects of the acquisition. In order to maximize the return of the investors, the acquisition has been carried out using transparent and flexible vehicles such as the Italian SAS companies.
The portfolio is made up of buildings located in the historical centres of the main north-eastern Italian cities, mainly in Milan, Rome and Turin. Most of the office buildings are partially leased by Banca Intesa. Operae is a real estate investment company.
Nicola Zeni, senior associate and head of tax in Italy led the team; he was assisted by tax lawyer Matteo Moretti, corporate finance senior associate Elisabetta Poltronieri and real estate lawyer Nadja Zoebisch .
Guido Audagna, Managing Director of The Carlyle Group in Italy, said: “The new strategic alliance with Operae was created specifically for this acquisition and we look forward to working with the Operae team. This acquisition confirms Carlyle’s commitment to real estate investment in the Italian market. ”
Vittorio Casale, General Manager of Operae, added: “I am delighted to work on this transaction in a strategic alliance with The Carlyle Group. We hope to be able to quickly leverage our expertise and experience in selling properties for this portfolio.”