03 April, City Wire
Mps launched the Ismea project for the sale of an NPL portfolio composed of credits concerning about 1,200 agricultural companies and originating from Banca Verde, which was acquired by the group in 2004. The estimated valued of the NPLs is 600 million euro.
Source: City Wire
Translator: Cristina Ambrosi
02 April, Affari Italiani
In 2018 Milan’s property market reported 24,522 transactions (+3.4% from 2017). In the first quarter of 2019, the demand rose by 9.7% compared to the same period of the previous year. New construction represents 21% of the current offer with an absorption rate equal to 72%. Prices for new properties increased by 6.4% and have set at 5,250 euro/Sq m on average.
Source: Affari Italiani
Translator: Cristina Ambrosi
01 April, TTG Italia
Marriott acquired Ac Hotels for 140 million. The two companies created a joint venture in 2011 when Ac Hotels reported debts for 580 million euro. The next step now is to relaunch the brand with 7,300 hotels worldwide.
Source: TTG Italia
Translator: Cristina Ambrosi
01 April, Il Sole 24 Ore
Retail has registered an increasing gap between regular shops and luxury shops. Spaces have to become more attractive in order to compete with e-commerce, which corresponds to sales for 27.4 billion euro. Last year, high street investments amounted to little more than 500 million euro.
In Milan, there are 123 shop windows in Via Montenapoleone. Here, prices reach 12,800 euro/Sq m per year, while they were 10 thousand euro/Sq m/year in Galleria Vittorio Emanuele. The demand for high street in Rome was quite dynamic in 2018 and supported by tourism. Florence is becoming more attractive, with 329 shop windows in the old town. Finally, there are 266 retailers and 446 shop windows in Venice.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
26 March, Milano Finanza
Following its plan to transfer its UTPs, Intesa Sanpaolo entered a non-binding agreement with Prelios for the possible creation of a strategic partnership. The operation is said to be already at the due diligence phase, and it may concern 1-2 billion euro of the total UTP stock for 10 billion, while Prelios will manage the remainder. The transaction is in accordance with the bank’s business plan of achieving a 6% gross NPE ratio by 2021. The agreement won’t conflict with Intrum, which is in charge of the Intesa NPLs.
Source: Milano Finanza
Translator: Cristina Ambrosi
03 April, Il Sole 24 Ore
After having moved to Tiburtina, Bnl put for sale its former Rome headquarters in Via Veneto, and a selected number of candidates have been recently invited to bid for the 24 thousand Sq m palace. Following the decision to turn the asset into a hotel, the bank chose Raffles (Accor) as the possible company to manage the hotel, although such a decision will be up to the future owner. The selling price is estimated at 250 million euro, plus about 60 million for the requalification and conversion to be paid by the buyer.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
03 April, Il Sole 24 Ore
Mps is planning to relaunch Sansedoni, the real estate company owned by Fondazione Mps and the bank itself. The operation will imply the negotiation of the debt, amounting to 160 million euro, along with the re-organisation of the real estate and servicing divisions. Meanwhile, the bank is studying the sale of its real estate portfolio, mainly composed of offices, for 600 million.
Concerning the NPLs, the operations currently in progress or recently closed amount to 7 billion euro. Mps aims at bringing the NPL stock to 13.8 billion by the end of 2019.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
01 April, Wall Street Italia
Thanks to the consistent growth of property transactions since 2013 and prices on the rise since the first semester of 2017, Milan is Italy’s fastest-growing city, also for what concerns the time it takes to sell a house, 100 days on average. The positive trend particularly relates to those neighbourhoods that had been requalified in the past few years, like Bovisa-Sempione (+5.6%), Lodi Corsica (+5.3%) and Fiera-San Siro (+5.0%). Prices are expected to grow by 4% – 6% in 2019.
Source: Wall Street Italia
Translator: Cristina Ambrosi
30 March, Il Sole 24 Ore
Oaktree has recently entered an agreement to acquire a hotel portfolio amounting to 300 million euro from Castello Sgr with the objective of creating a fund specialised in hospitality and managed by Castello. The acquisition concerns 15 assets, five of which are luxury hotels, including Fonteverde, Grotta Giusti and Bagni di Pisa in Tuscany, Chia Laguna Resort in Sardinia and Le Massif in Courmayeur. The American group plans to carry out further investments for other 700 million euro.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
Portugal 
Spain 
Greece 
