LONDON/MILAN, January 9, 2020– Bain Capital Credit, LP, (“Bain Capital Credit”), announces the acquisition of 13 real estate assets across Italy. The assets include five offices in secondary locations across Milan, Rome and Bologna, covering a total of 65,000 sqm, which have been acquired from funds managed by Amundi SGR. Additionally, six offices in Milan and two retail centres in the Milan province and the Molise region have been acquired from asset manager Covivio.
These acquisitions follow the Immobiliare Stampa transaction, which saw Bain Capital Credit acquire a portfolio of over 200 real estate assets across six regions in Italy.
“We are excited to have added another 13 real estate assets to the substantial portfolio we have built in Italy,” says Fabio Longo, a Managing Director and Head of Bain Capital Credit’s European Non-Performing Loan & Real Estate business. “We have an excellent team and adviser network who have a strong expertise in pricing real estate portfolios and adding value through active asset management, capex investment and working with best-in-class operating partners. We continue to seek out further attractive investment opportunities, both in Italy and across Europe.”
Bain Capital Credit has acquired and managed over 3,500 Italian real estate assets with a total value in excess of €4bn through its investments in both the real estate and distressed markets. It has built a reputation as a trusted partner and has a strong track record of successfully executing deals across a range of asset classes in Italy, one of Bain Capital Credit’s core countries.
Savills Investment Management, Kryalos and Pradera will asset manage the portfolios.
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $41 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.