22 October 2017
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Allianz RE purchases Kensington fund from Blackstone

09 August 17 - RE+D Magazine
Allianz RE purchases Kensington fund from Blackstone

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DATE BUYER SELLER
19 October 17 Pacific Castle Shopcore
17 October 17 Credit Suisse Asset Management Legal & General capital

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Solum Property Solutions

Consultant - GREECE

Savills

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Allianz Real Estate has finalised the acquisition of 100% of the units of the Italian closed-end alternative real estate investment fund named 'Kensington' on behalf of a group of German Allianz entities.

 

The fund, according to an official announcement, is managed by Kryalos Sgr and was sold by real estate funds controlled by Blackstone Real Estate Partners Europe. In acquiring 100% of the fund, Allianz's portfolio now includes an additional two prime office properties in the Milan Porta Nuova District: 'Gioia 26' and 'Porta Nuova 21'.

Shearman & Sterling has acted as legal advisor to Allianz. Vitale&Co Real Estate has acted as financial advisor to the Seller as well as Molinari Associati as legal advisor.

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