Pirelli Real Estate said its joint venture with Deutsche Bank-managed RREEF Global Opportunities Fund II is buying a mixed-use portfolio of 29 properties from Italy's pension fund Enpam. The total acquisition value comes to EUR 305 mln. Closing of the transaction is expected to take place this autumn with the portfolio being transferred to Social & Public Initiatives, an opportunistic real estate fund managed by Pirelli RE Opportunities, the company said in a statement. All the fund's units will be subscribed by the Pirelli RE (35%)- RREEF (65%) joint venture.
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