Pirelli RE venture ups bid for real estate funds

(Adds price increase)

MILAN, June 20 (Reuters) - Gamma RE, a joint venture of Pirelli & C Real Estate (PCRE.MI) and a Morgan Stanley (MS.N) fund, has raised its offer price for two publicly traded real estate funds.

Gamma RE said in a statement on Wednesday it was offering 685 euros a unit for the Berenice fund and 678 euros a unit for the Tecla fund.

Gamma RE groups Pirelli RE and the Morgan Stanley Real Estate Special Situations Fund.

Goldman Sachs (GS.N) is offering 650 euros for both Tecla and Berenica units through Zwinger Opco, a vehicle run by its real estate fund Whitehall.

Goldman made its bid after Pirelli RE announced on Friday, June 8 it would offer 590 euros for each unit in the Tecla fund and 540 euros for each one in Berenice.

((Reporting by Stefano Rebaudo, writing by Ian Simpson; editing by Greg Mahlich; Reuters Messaging: gilles.castonguay.reuters.com@reuters.net; +39 02 6612 9507; fax +39 02 801 149; milan.newsroom@news.reuters.com))

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