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retail-shopping-centers Market News: Italian Real Estate Intelligence

Cbre: logistic investments drove 2020 real estate
14 January, Mark Up Commercial real estate investments in 2020 amounted to 8.8 billion €, having declined by 29% from 2019 (12 billion €). Foreign investments went from 69% to 58%. However, this doesn’t mean the Italian market lost its appeal, it rather reflects a cautionary approach due to the current uncertainty. Logistics performed exceptionally well. With investments totalling 1.4 billion € entirely from foreign investors, it proved to be the most resilient sector of 2020, outperforming 2019. Palazzo Delle Poste in Piazza Cordusio, Milan, was the biggest retail operation of 2020 with 250 million €. Apart from that, retail closed with -29%. The office segment kept its leading position with 3.7 billion € invested, reporting a 26% decrease from the previous year. Hospitality registered investments for about 1 billion €, resulting in a 68% decline compared to 2019, which reported an all-time high. Residential investments amounted to 580 million €, mostly focusing on developments projects, especially in big cities, due to the lack of available assets on the market. Source: Mark Up Translator: Cristina Ambrosi
Milan: Kryalos sold trophy asset in Piazza Cordusio to Mediobanca investors for 246.7 mln €
29 December, Kryalos Kryalos Sgr completed the sale for 246.7 million € of the former Palazzo delle Poste in Piazza Cordusio, Milan, to a club deal of investors coordinated by Mediobanca. The trophy asset used to accommodate the central post office and was renovated between 2015 and 2018 with an investment of 23 million €, obtaining the LEED Gold certification. The building is currently let to Starbucks, while its office space is leased to JP Morgan, Natwest and Kryalos. Source: Kryalos Translator: Cristina Ambrosi