Kryalos acquired office portfolio from Covivio for 263.5 million euro

29 May, Kryalos

Kryalos acquired through its alternative real estate investment fund Arete ten office assets from Covivio for 263.5 million euro of value. The offices are located in various cities all over Italy, including Milan, Rome and Venice, and they’re all leased to primary tenants.

Source: Kryalos

Translator: Cristina Ambrosi

Revenue: -3.7% for office transactions in 2018

30 May, Monitor Immobiliare

In 2018 reported a growth in the transactions for shops (+4.6%) and warehouses (+0.6%), while those for offices decreased (-3.7%). The total transactions for the non-residential segments are worth 15.6 billion euro, registering a 0.4% decrease from 2017.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

Mps to sell UTP portfolio to Bofa Merrill Lynch

29 May, Il Sole 24 Ore

Mps is about to close the sale of the UTP portfolio named Lima to Bank of America Merrill Lynch. The estimated value of the portfolio is 130 million euro.

Meanwhile, the bank is also selling another UTP portfolio (Papa2), containing holdings backed by real estate assets for a gross value of about 500 million. Fortress is allegedly negotiating to obtain this portfolio.

Together, the two portfolios are worth 630 million euro. The target of Mps is to reduce UTPs by 2 billion within the year.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Green spaces, social housing and hostels: urban renewal in Milan

23 May, Il Sole 24 Ore

With its participation in the international contest “Reinventing Cities”, Milan is pursuing the way of sustainable urban regeneration. Some of the projects are the implementation of social housing in Scalo Greco, the creation of an oncology research centre in Via Serio, and the requalification of the historic building of Scuderie de Montel in San Siro.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Bloomberg: UniCredit is preparing a new NPL operation for 5 billion euro

23 May, CityWire

UniCredit is about to sell an NPL portfolio for a nominal value of 5 billion euro, pursuing in this way its long-term de-risking plan. The bank is currently selecting the credits to include in the operations. Hence, the dimensions of the portfolio are not defined yet.

Source: CityWire

Translator: Cristina Ambrosi

Milan: new requalification projects ready to start

27 May, Idealista

The Dutch studio Oma won the bid to re-design the former railway yards of Farini and San Cristoforo. The bid was launched by Fs Sistemi Urbani and Coima Sgr, which holds a 10% stake in the area. The project implies the creation of about 1000 apartments in Farini, while a park will run along the old tracks, becoming the third largest park in the city.

After a long time of neglect, Porta Vittoria has been acquired by York which will proceed with its redevelopment. Other relevant projects are the transformation of Piazzale Loreto into a park by 2030 and the requalification and conversion into offices of Palazzo di Fuoco. Finally, Coima acquired Pirellino, formerly occupied by municipal offices, which will also be requalified.

Source: Idealista

Translator: Cristina Ambrosi

Milan, the NoLo revolution: from working-class neighbourhood to creative district

18 May, Milano Città Stato

Once the neighbourhood of workers from Southern Italy, then of immigrants from Latin America, North Africa and Asia, the area north of Piazzale Loreto is currently turning into a creative hub, hosting galleries, showrooms and concept stores, thanks to the affordable rents.

Source: Milano Città Stato

Translator: Cristina Ambrosi

Guber Banca acquired NPLs for 350 million

29 May, First Online

Guber Banca announced the acquisition of three NPL portfolios for a total value of 350 million euro on the secondary market.

The portfolios consist of unsecured loans for over 327.5 million, with about 46 thousand holdings throughout the country. Secured loans amount to 23.9 million euro, corresponding to 30 holdings mainly located in Emilia-Romagna and Lombardy.

Source: First Online

Translator: Cristina Ambrosi