29 July, Torino Today
The property in Corso Galileo Ferraris, Turin, was acquired by Immobiliare Lanificio Maurizio Sella, a vehicle of the group Sella. It will be turned into a branch of Sella bank. The asset was sold by privates, while Gruppo Gabetti managed the operation.
Source: Torino Today
Translator: Cristina Ambrosi
29 July, Il Sole 24 Ore
Abitare Co. reports that the new construction market is in good health. In the first half of the year, the demand (+4.2%), the offer (+1.6%) and the prices (+2.6%) had all grown. New houses represent 12% of the totality of the property market.
Milan is the most dynamic city in terms of sales (+8.3%) and offer (22.3% of the total), while Bologna is the first concerning prices (+4.8). Regarding sales, Milan is followed by Bologna (+7.5%), Rome (+5.7%), Genoa (+3.8%), Naples (+3.5%), Turin (+1.6%), Palermo (+1.4%) and Florence (+1.4%).
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
27 July, Il Sole 24 Ore
Florence’s former tobacco factory, which had been closed since 2001, is currently undergoing a significant requalification operation funded by a joint venture formed by Cassa Depositi e Prestiti and Aermont Capital. The project concerns an area of 100 thousand Sq m for a total investment of 200 million euro. The completion of the project is expected by 2022.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
16 July, La Repubblica
The owners of the shopping centre 8Gallery, Axa Investment Managers Real Assets and Pradera, announced renovation works for a total investment of over 20 million euro. The restyling will last ten months and will imply a 35% extension of the commercial surface, at present of 23 thousand Sq m.
Source: La Repubblica
Translator: Cristina Ambrosi
27 July, Milano Finanza
The company entered an agreement to lease an office building covering 3,900 Sq m of surface owned by Italy Opportunity Fund managed by Kryalos Sgr. The asset is located in Via Ceresio 7 and is included in the project concerning the requalification of the former Enel area.
Source: Milano Finanza
Translator: Cristina Ambrosi
26 July, Finanza Online
Illimity Bank has recently announced to have completed the acquisition of three separate NPL portfolios for a total GBV of 340 million euro.
The first portfolio was acquired from UniCredit; it amounts to 240 million euro and consists of unsecured corporate credits. The second portfolio was bought for 80 million euro, and it mainly consists of leasing credits. The third operation has a nominal value of 23 million euro and is composed of corporate loans backed by logistics assets.
Source: Finanza Online
Translator: Cristina Ambrosi
27 July, Milano Finanza
Allianz has recently acquired two logistics facilities for a gross value of 33.6 million euro. The assets cover a surface of 45 thousand Sq m and are located in Milan and Vicenza.
The operation is included in the insurance company’s plan for the investment of 80 million euro in Italian logistic assets by the end of the year.
Source: Milano Finanza
Translator: Cristina Ambrosi
27 July, Il Sole 24 Ore
Unipol has recently received the binding offers for the iconic Milan building. According to rumours, Hines is the favourite candidate. The building, 105 m high, has some construction restrictions and requires a significant restructuring work.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
26 July, La Repubblica
The real estate investment fund Obelisco was incorporated in 2005 and collected 172 million euro from private investors through the 14 thousand post offices of Poste Italiane. The fund’s objective was “investing in a diversified portfolio of office, commercial and logistics assets and obtaining yearly returns for at least 5.5% through the asset sale and management”. Instead, as recently reported by the fund manager Investire Sgr: “As of today, there are no distributions of proceeds or capital”. Losses are 88% of the total. The main reasons are the poor quality of the assets of the portfolio and high risk of the type of investment, usually addressing institutional investors. Poste Italiane is already studying a compensation plan for the investors.
Source: La Repubblica
Translator: Cristina Ambrosi
26 July, Milano Finanza
Mps is said to carry out a big operation concerning the sale of its real estate portfolio by the end of the year for a value of 350 million euro. The manifestations of interest are expected by the end of July, while the non-binding offers are scheduled for September. Among the candidates, there are names such as Blackstone, Cerberus, Prelios and Goldman Sachs.
Source: Milano Finanza
Translator: Cristina Ambrosi
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