Milan: York Capital acquired the assets of Porta Vittoria through the fund Niche

23 May, Bebeez

The fund Niche, managed by Prelios, completed the acquisition of the assets related to the bankruptcy of Porta Vittoria Spa. The fund is entirely underwritten by York Capital, which will complete the development of the 139 thousand Sq m area. The project implies the creation of over 160 apartments covering a surface of 23 thousand Sq m.

Source: Bebeez

Translator: Cristina Ambrosi

NPLs trends at the Italian Restructuring Forum by Debtwire

27 May, Start Magazine

Securitisations are generally aligned with banks’ business plans. The operation by Mps named Siena Npls 2018 had a net cumulative ratio of 97%, a little bit less for the Fino portfolio of UniCredit with 85%.

Moody’s warned about the delays in collection times, although this mostly concerns minor operations. Therefore, investors shouldn’t worry.

Thanks to the extension of Gacs, securitisation with Government guarantee are going on and are expected to intensify in the next few months.

Source: Start Magazine

Translator: Cristina Ambrosi

Coima: urban renewal projects for 10 billion euro in Milan

24 May, Piambianco Design

After having carried out urban regeneration projects for 5 billion euro, Coima has a series of new projects in the pipeline for over 2 billion euro, planning to add other 3 billion in the next five years, for a total investment of 10 billion euro.

In Porta Nuova, Coima acquired assets for a total surface of over 150 thousand Sq m. The objective is to implement a requalified area linking the Central Station to Scalo Farini.

Gioia 22 concerns the construction of an office building complying with the highest energy saving standards.

Finally, Corso Como Place is the requalification project of a 24-storey existing building.

Source: Piambianco Design

Translator: Cristina Ambrosi

Turin: Settimo Cielo is Italy’s biggest retail park

25 May, ItaliaOggi

Settimo Cielo Retail Park in Settimo Torinese has been extended to 69 thousand Sq m from the previous 43 thousand. The works started in 2017 with an investment of about 40 million euro.

The extension generated 600 new jobs and 42 new shops, four parking lots in total and estimated visitors for 9 million a year. Cushman & Wakefield has been appointed for the marketing of the new area.

Source: ItaliaOggi

Translator: Cristina Ambrosi

 

Property prices are sinking everywhere (except in Milan)

24 May, Corriere della Sera

Fiaip reported a further decline of property prices nationwide with the only exception of Milan (+6.9%). Properties have depreciated on average by 2.5%, with the non-residential segment registering the worst results: -4.7% for offices, -4.2% for shops and -5.4% for warehouses.

Source: Corriere della Sera

Translator: Cristina Ambrosi

Prometeia: the numbers of the 2018 Italian residential market

22 May, Il Sole 24 Ore

House transactions reported a 6.6% increase in 2018, continuing the positive trend started in 2015. However, prices are still registering a negative variation (-0.6%), especially for what concerns old properties. In any case, the outlook is positive for the short and medium term.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

 

Kryalos to open Galleria in Parma

23 May, MF Fashion

Following the recent acquisition by Blackstone of a 35% stake in the company, Kryalos Sgr is now to launch Galleria in Parma, the requalification project of the former Barilla Centre for a surface of 37 thousand Sqm.

Galleria is an urban district offering entertainment, retail, restaurants and food.

Source: MF Fashion

Translator: Cristina Ambrosi

Poggiofranco is the favourite in Bari residential market

23 May, Corriere del Mezzogiorno

In 2018 the Bari real estate market registered a 10.5% increase of transactions. Poggiofranco remains one of the most sought-after neighbourhoods, with prices rose by 1.4% in the first six months of the year. Prices go from 1,600 euro/Sq m to 2,350 euro/Sq m for dated properties, while new houses can reach up to 3,100 euro/Sq m. The demand has always been strong thanks for the excellent facilities and infrastructure available in the area.

Source: Corriere del Mezzogiorno

Translator: Cristina Ambrosi