International funds are rushing to invest in Milan

29 April, Il Sole 24 Ore

Milan is witnessing the thriving activity of American and Middle Eastern investors acquiring and requalifying real estate assets in the city. The main players are Hines, Cbre, Invesco, Aew, Angelo Gordon, Barings, Wework, Kkr and the Canadian Carlyle, Gic from Singapore and Qatar lnvestment. The operations amount to 4 billion euro in total, according to Cbre.

The Qatar and Emirates funds have been partnering with Coima for their operations, as in the case of Porta Nuova, the former Inps building Gioia 22, and Palazzo San Fedele.

Luxury focuses on high-street with areas such as Via Torino and Corso Buenos Aires. Concerning hospitality, Oaktree acquired a hotel chain from Castello Sgr from 300 million. In the logistics segment, Invesco acquired the Broni Logistic Park in the province of Pavia as well as the former Traversi garage in Milan for 100 million, while Cbre bought the logistic park of Truccazzano.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Allianz acquired the prime office asset of Tortona 33 in Milan for 83 million euro

26 April, Allianz

Allianz Real Estate acquired a multi-tenant office complex in the fast-growing area of Tortona in Milan from BNP Paribas SGR for 83 million euro. The complex is composed of two buildings – Ares Tower and Athena Tower – covering a total surface of 19,275 Sq m.

Source: Allianz

Translator: Cristina Ambrosi

Istat: residential transactions rose by 5.5% in 2018

23 April, Il Sole 24 Ore

In the fourth quarter of 2018, real estate transactions rose by 4.7% from the previous quarter, with 230,258 transactions in total. The growth had been homogeneous throughout the country: +5.5% for north-west, +4.7% for north-east, +4.4% in the centre, +2.8% in the south and +1.8% in the islands. 93.9% of the transactions concerned residential properties, with a 2.2% increase of mortgages and other types of funding. The yearly growth was equal to 5.5% for residential properties and 5.8% for commercial assets.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Emilia Romagna says yes to condohotels, half hotels half houses

18 August, TTG Italia

The region of Emilia Romagna approved a law to introduce condohotels in its territory. This type of assets offers hotels rooms as well as private residences for up to 40% of the surface. The earnings from the sale of the houses will be re-invested in the requalification and safety of buildings and services, in compliance with the international standards.

Source: TTG Italia

Translator: Cristina Ambrosi

Milan: the third building of the development Aurora is for sale

22 April, Internews

The third building of the residential project of Borio Mangiarotti and Värde Partners in the Fiera area in Milan has been put for sale. The building has six floors, covering 4,200 Sq m and a total of 47 apartments, with the predominance of one-bedroom apartments. With this third building, the total number of houses offered by Aurora is 140. Sigest appointed for marketing the assets. One year from the launch, 85% of the houses have already been sold, the average price is 6,000 euro/Sq m. Meanwhile, the other two buildings are under construction, and the project will be completed by 2020.

Source: Internews

Translator: Cristina Ambrosi

Milan is the European leader for real estate, developments also outside the city centre

10 April, Il Sole 24 Ore

According to Scenari Immobiliari, the real estate investments in the pipeline for Milan amount to 13.1 billion euro. This outlook has a positive impact also in the residential market, where property prices are on the rise even in the suburban areas. The trend for the next ten years will be investing outside the city centre. Requalification projects will concern a 12.5 million Sq m surface, mainly focusing on residential (2.7 million Sq m), services (1.3 million Sq m), commercial (1.3 million Sq m), and public facilities (650 thousand Sq m).

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi


Abitare.Co: absorption between 70% and 90% for new houses in Milan

03 April, Il Sole 24 Ore

The demand for houses in Milan increased by 9.7% in the first quarter of 2019 compared to the same period of the previous year, while property prices grew by 9.8% (10,150 euro/Sq m), reporting an absorption rate close to 90%. The western part of the city is the fastest-growing area, thanks to the requalification of Porta Nuova, Porta Volta and CityLife.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Illimity launched the servicing platform Neprix

05 April, Teleborsa

The platform will carry out all the servicing activities related to NPLs, both directly acquired by the bank and on behalf of third parties. Illimity currently manages NPLs for 1 billion-euro gbv.

Meanwhile, the bank also started a partnership with IT Auction, a company specialised in the management and marketing of real estate assets acquired through insolvency proceedings.

Source: Teleborsa

Translator: Cristina Ambrosi


EY: Italian banks to sell 16 billion NPLs originated from real estate leasing

02 April, Il Sole 24 Ore

The derisking activities of the Italian banking sector will also concern NPEs derived from leasing for 19.3 billion euro, 81% of which is represented by real estate leasing, amounting to 15.6 billion in total.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi