Metro Fim, owned by the Gruppo Metro, has contributed 20 wholesale stores to Venti M, a new closed-ended real estate investment fund established by BNP Paribas REIM Italy.

The fund has a 12-year lifespan.

Located mainly in the north of Italy, the assets are fully let to Metro Italia Cash & Carry.

The EUR 300 mln operation was completed on 23 December through the contribution of the assets to the fund and the placement of the fund units with qualified national and international investors. The placement process was managed by Banca IMI.

BNPP REIM Italy now manages about EUR 1 bn of retail assets.