Italy's Iniziative Milano Ovest, a joint venture between Redilco Real Estate and Inpartner, has reached agremeent with Modisti on the leasing of 14,000 m[sup]2[/sup] of space at the newly-developed Buondi business park in Cornaredo, near Milan. The Buondi site was previously an industrial area. The joint venture bought the site in the end of 2006 and subsequently transformed into a 80,000 m[sup]2[/sup] business park.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
