GWM poised for €170m Rome office deal

European privately-held asset manager GWM is set to acquire a major office complex in the Eur district of Rome, PropertyEU can reveal.

GWM is believed to have emerged ahead of at least two other bidders, Cerberus and Coima, in the bid to buy the asset from the SEB Immoinvest open-ended fund in liquidation for a price between €170 and €180 mln.

Landlord SEB Immoinvest and asset manager Savills hired agent CBRE earlier this year to sell the property, located at via Laurentina 449.

The German open-ended fund has owned the asset - one of the largest in its portfolio - since 2003. The scheme currently provides around 47,000 m2 of space and 1,340 parking spaces.

Its largest tenant, Italian oil conglomerate Eni, is due to vacate the building shortly and the asset will be sold largely empty.

The operation would be the second major acquisition by GWM in Italy this year. Earlier in 2018, the Luxembourg-based group bought the largest shopping centre of Sicily from local developer and landlord, Gruppo Cualbu for €145 mln, or a cap rate approaching 10%.

This article first appeared in Europroperty, the weekly edition of PropertyEU


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