Completion of the Pavilion acquisition


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COIMA RES S.p.A. SIIQ ('COIMA RES' or the 'Company') has completed the acquisition of the Pavilion from UniCredit for Euro 45.0 million (or Euro 46.3 million including transfer tax and due diligence costs) plus a potential earn-out of up to Euro 5.0 million.

As a reminder, on May 21st, 2018, COIMA RES entered into a preliminary purchase agreement with UniCredit to acquire the Pavilion and on August 1st, 2018, COIMA RES signed a 9-year leasing agreement with IBM for the entire property which will be effective from Q1 2019.