LONDON, Feb. 28, 2022 /PRNewswire/ -- Crestline Investors, Inc. ("Crestline"), a credit focused institutional alternative asset manager, today announced that it has acquired two premier shopping centers in Italy, The Il Ducale in Vigevano and Costaverde in Montenero di Bisaccia, with Pradera acting as an investment and asset manager and New End as a co-investor. Financial terms of the transaction were not disclosed.
"The performance of these assets during and after the pandemic was robust and we believe that quality assets in the right locations will generate attractive, uncorrelated returns," said Anubhav Vaish, Senior Adviser at Crestline. "We look forward to sourcing new opportunities in the convenience-led retail real estate market together with our partners."
"These particular assets have proven their natural resilience to market fluctuations over the past two years due to a mix of factors, including the convenience aspect, need-based consumer visits, and dominant competitive position," said Robert Limetti, Managing Director at Pradera. "We are very proud to have stabilized the two centers in the last 12 months through our hard asset management work and we're now focusing on furthering that value creation for the years to come."
Crestline was advised by NTCM on Legal, Studio Pirola on Tax and Accuracy on Financial Diligence among other advisors.
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is a global institutional investment management firm with approximately $13 billion of assets under management. Crestline Europe LLP specializes in direct private capital investments in resilient industry sectors which are either asset backed or demonstrate defensive cash flow profile in developed markets of Europe. Crestline Investors, Inc. maintains affiliate offices in London, New York City, Chicago, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.
This financial promotion is issued by Crestline Management, LP and Crestline Europe, LLP (together "Crestline"). Crestline Europe, LLP is authorised and regulated by the Financial Conduct Authority (FCA).
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SOURCE Crestline Investors, Inc.