Nctm Studio Legale with BNP Paribas REIM Italy SGR p.A. in the renegotiation of leases
Nctm Studio Legale advised BNP Paribas REIM Italy SGR p.A., in its capacity as manager of the listed alternative real estate fund “Immobiliare Dinamico”, on the conclusion of a framework agreement for the renegotiation of the leases concerning seven of the Fund’s properties for commercial use with one of the main tenants of the Fund’s properties.
The renegotiation of the leases, in accordance with the commitments undertaken under the framework agreement, will lead to entering into new lease agreements with the following main characteristics by 31 December 2020: (i) rent updated in the light of the smaller areas leased as well as current market conditions; (ii) a new contractual term of five years plus five years; (iii) effective date from 1 January 2022.
Nctm team assisting BNP Paribas REIM Italy SGR p.A. was led by Luigi Croce.