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WGF pays Pirelli RE E56m for German residential portfolio
Düsseldorf-based WGF has acquired a real estate portfolio with a transaction volume of E56m from Pirelli Real Estate, taking its portfolio to 4,473 residential and 166 commercial units. "We are delighted with this transaction and have decided, on the basis of Pirelli RE's excellent performance up to now, to leave the asset management in their hands," said WGF CEO and Founder Pino Sergio. Pirelli RE Germany MD Paolo Bottelli said the sale marks a continuing strategy of portfolio optimisation for his group. (See upcoming PIE/PFE editions for full story)