Curtis Advises LeadCrest Capital Partners in a Sale-Leaseback Transaction with Leroy Merlin Italia

LeadCrest Capital Partners, a pan-European fund focused exclusively on sale-leaseback and build-to-suit investments, expanded its Italian footprint by reaching an agreement with Leroy Merlin Italia for a sale and leaseback transaction involving eleven retail warehouse assets valued at approximately €120 million.

The portfolio, totaling over 90,000 square meters of commercial space across Italy, is fully leased to Leroy Merlin, a market leader in DIY, construction, and home improvement retail. The transaction was executed through a closed-end, reserved alternative real estate investment fund managed by Polis SGR S.p.A.

To partially finance the acquisition, BNP Paribas granted a medium/long-term green financing to the buyer.

Curtis, Mallet-Prevost, Colt & Mosle LLP advised LeadCrest and the Fund on all legal aspects of the acquisition and leasing. The multidisciplinary team was led by partner Sergio Esposito Farber, and included: partner Francesco Dell'Atti, along with associates Matteo Marino and Teresa Massaro, handling real estate and regulatory matters; partner Francesco Caccioppoli, supported by associates Marco Debertolis and Erica Sotgiu, advising on urban planning law issues. Legal support on bank financing negotiations was provided by partner Filippo Bianchi, together with associate Gianluca Pappacena and Gaia Morello.

PedersoliGattai advised LeadCrest on tax matters with a team led by partner Domenico Ponticelli, along with senior associate Damiano Di Vittorio and associate Eduardo Barone.

Leroy Merlin was represented by Bird & Bird, with a multidisciplinary team including partner Antonella Ceschi and associate Antonio Castorina.

Gianni & Origoni advised the lending bank, BNP Paribas, with a team led by partners Giuseppe De Simone and Piergiorgio Picardi.