Eurocastle Investment is to sell its entire holding of Real Estate Fund Units (FIP) in Italy for EUR 169 mln. The transaction, which is expected to close before the end of the month, will generate a net gain of approximately EUR 15.7 mln. The sale is in line with Eurocastle's strategy to sell non-core assets and the company has said that it will use the net proceeds to repay debt.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
