Month: September 2019

Illimity acquired NPLs and UTPs for 850 million euro

29 September, FirstOnline

Illimity acquired non-performing loans and unlikely-to-pay for over 850 million euro through four separate operations.

The biggest operation amounting to 700 million euro concerns an NPL portfolio held by UniCredit. The portfolio is composed of corporate secured loans mostly backed by industrial and commercial assets.

The other three operations concern NPL and UTP holdings, mostly corporate secured loans, for a gross value of 150 million euro.

Source: FirstOnline

Translator: Cristina Ambrosi

Coldwell completed the sale of the AMT and AMT Real Estate hotels

27 September, Bebeez

Following the sale to a leading investor of the Mercure Excelsior Hotel in Catania for 11 million euro, Coldwell completed the disinvestment of the Amt Real Estate and Acqua Marcia Turismo real estate portfolios, as both companies are under liquidation.

The operation concerned hotels of the luxury, superior and business lines, which remained open and operative, for a total of about 83 thousand Sq m and 770 rooms.

Source: Bebeez

Translator: Cristina Ambrosi

Clessidra launched a new fund dedicated to UTPs

26 September, Ansa

Clessidra has launched its first fund dedicated to the unlikely-to-pay credits of manufacturing companies, Clessidra Restructuring Fund. The portfolio includes 14 companies with total revenues for 1.4 billion euro. The portfolio was assessed at 320 million euro at the first closing.

The fund has two components. One is the credit component, which includes holdings of solid Italian companies undergoing industrial and financial restructuring. The other component is new finance, aimed at gathering funds to relaunch and develop the companies in the portfolio.

Source: Ansa

Translator: Cristina Ambrosi

UniCredit negotiating 5-billion-euro portfolio with DoValue

28 September, Il Sole 24 Ore

UniCredit is currently holding an advanced stage negotiation with DoValue (formerly DoBank) over a mortgage loan portfolio valued 5 billion euro. The operation will likely imply the securitisation of the portfolio through State guarantee. DoValue might act as a servicer for the portfolio.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Istat: +1.3% for property prices in Q2, -0.2% in a year

26 September, Il Sole 24 Ore

Property prices have further decreased on yearly basis (-0.2% from the same period of 2018), although they grew by 1.3% in the second quarter compared to the start of the year. The growth is due to existing houses, which rose by 1.5%, while new houses are substantially stable (-0.1%).

Property prices increased in the north of the country (+0.2% in the north-west and +1.7% in the north-east), while they continued declining in the centre and the south (respectively by 1.7% and 1%), although at a slower pace. Milan registered the sharpest growth with +6.9%, while Rome decreased by 2.8%.

Despite the positive trend of prices, as S&P showed in its latest report, the outlook for Italy for the next two years is negative.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Istat: house prices dropped by 17.2% from 2010

25 September, Il Sole 24 Ore

In the third quarter of 2019, property prices declined by 0.5% from the previous quarter and by 0.8% compared to the same period of 2018. On the other hand, prices for new houses grew by 1.7% (+0.6% from Q4 of 2018). Houses prices decreased by 17.2% from 2010. This trend is almost entirely due to existing houses, whose values dropped by 23.7%.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Milan is the most attractive market for investments in logistics

23 September, Corriere della Sera

In its latest report on the logistics market, World Capital reports that the attractivity of the Milanese market is assed at 64.7. The calculation is obtained by taking into considerations eight parameters: population, property market trend, tourism, socio-economic conditions, infrastructures, credit, public administration and environment. On this last parameter, Milan scored very low, reporting 27.8 over a total of 100.

Yields for logistics assets are around 6%, compared to 4% of prime offices and 3% of retail.

Finally, the market is expected to focus on short-term rentals in the future (three to six years), whereas the market is currently dominated by long-term leases averaging twelve years.

Source: Corriere della Sera

Traslator: Cristina Ambrosi

Orion obtained exclusive rights on the BNL headquarters in Rome

23 September, Bebeez

Orion Capital Management got the exclusive on the negotiations to acquire the BNL headquarters in Via Veneto 119, Rome. The requested price amounts to 250 million euro, plus 60 million for its requalification and conversion into a hotel. For this purpose, the bank had selected Raffles as the manager of the hotel, although the buyer will have the final word. The asset develops over 24 thousand Sq m and was built in 1937.

Source: Bebeez

Translator: Cristina Ambrosi

Bologna: the property market has restarted in the prime areas

21 September, Il Resto del Carlino

Concerning the market trend of the Bologna property market in the second half of 2018, Nomisma shows a heterogenous situation. Near the towers, prices average 4,325 euro/Sq m, while in Via Riva Reno-Lame prices decrease to 2,700 euro/Sq m. Giardini Margherita, Castiglione and Via Murri are the most expensive neighbourhoods, with average prices around 4,200 euro/Sq m. Prices dramatically reduce in Pilastro (2,200 euro/Sq m for new houses), as well as in the areas of Zanardi, Marco Polo and Borgo Panigale. Prices in Bolognina, Ippodromo and Piazza Dell’Unità are around 2,400 euro/Sq m.

According to Nomisma, property prices have finally started growing along with the number of transactions, especially in the most exclusive areas of Bologna.

Source: Il Resto del Carlino

Translator: Cristina Ambrosi

Invimit launched the fund Dante for 200 million of value

20 September, Il Sole 24 Ore

Invimit goes further in its disinvestment plan for 1.25 billion in three years. The last step was the recent launch of the fund Dante worth 200 million euro. The fund targets professional investors and focuses on prime leased properties in big cities. Besides reducing public debt, the fund also aims at increasing the income of such properties through their valorisation.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi