KKR, Hines Italia SGR, COIMA Makes First Real Estate Acquisition In Italy

(RTTNews) - Global investment firm KKR & Co. L.P. (KKR), along with Italian REIT's Hines Italia SGR and COIMA announced the acquisition of five telecom assets leased to Italian phone carrier Telecom Italia SpA (TI, TIAOF). This is KKR's first real estate acquisition in Italy.

The assets were acquired from "Tecla Fondo Uffici", a closed ended fund managed by Italian property firm Prelios SPR, for 49 million euros. Tecla Fondo Uffici is the first private seeded real estate fund in Italy.

The acquired portfolio has a total area of 35,500 square meters. It consists of five separate sites, in Rome, Monza, Parma, San Remo and Pavia.

Since launching a dedicated real estate platform in 2011, KKR has committed over $2 billion to 50 real estate transactions in the U.S., Europe and Asia as of the first quarter of 2015.