Month: February 2020

Cbre: investments in logistics are growing thanks to e-commerce

25 February, Monitor Immobiliare

Cbre reports that investments in the Italian logistics real estate sector in 2019 amounted to 1.3 billion euro. Such an excellent result is due to the increased number of international investors present on the national market, which tends to focus on the Milan greater area.

There are investments in the 2020 pipeline for 1 million Sq m, corresponding to a 6% growth of the existing stock. The demand still limits to global players such as Amazon, Yoox or Zalando. Still, there is an emerging trend of retailers operating online. As a result, the demand for facilities of smaller dimensions is growing. At the same time, last-mile logistics is also expanding, although its growth is limited by the modest number of assets.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

Milan: Ubi Banca negotiating with Coima for Gioia 22 skyscraper in Porta Nuova

26 February, Il Sole 24 Ore

Exclusive negotiations are currently going on between Ubi Banca and Coima concerning the sale of a portfolio composed of seven office assets. The purpose of the bank is to optimise its locations and move its headquarter to Porta Nuova (Milan), where Coima is building Gioia 22. The skyscraper will be 120 metres high, for a total of 26 floors and a gross surface of 68,432 Sq m. Once completed by the end of 2020, it will be valued between 450 and 500 million euro.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Milan: Hines partners with Varde to compete for Scalo Romana

26 February, Milano Finanza

The requalification project of Scalo Romana in Milan is currently in the phase of gathering the manifestations of interest from the various contestants. According to the rumours, Hines is supposed to participate in partnership with Varde and Borio Mangiarotti, while Coima will team up with Covivio and Prada.

The requalification of the area implies the creation of seven buildings to accommodate the athletes of the 2026 Olympics, after which they will be converted into student residences. Of the 164,000 Sq m GFA, 30% will be for non-residential use and 70% for residential use. Finally, 50% of the total surface will be turned into a public park.

Source: Milano Finanza

Translator: Cristina Ambrosi

Kryalos will reach managed assets for 8 billion by entering the NPL and UTP market in 2021

25 February, Bebeez

Kryalos Sgr has announced that it aims at increasing its managed assets from 6.5 to 8 billion euro by 2021. For this purpose, the asset manager has recently obtained the authorization to operate also in the UTP and NPL sectors. The focus, however, will remain real estate, consisting mainly of offices, logistics and retail.

Source: Bebeez

Translator: Cristina Ambrosi

Prelios looking for buyers for Galleria Sordi in Rome

25 February, Milano Finanza

Prelios is about to launch a tender for the revaluation of Galleria Sordi, near Piazza Colonna in Rome. Hines might be one of the favourite candidates. The aim is to find buyers to develop the retail vocation of the asset, replicating the success of Galleria Vittorio Emanuele in Milan.

Source: Milano Finanza

Translator: Cristina Ambrosi

Construction works for Chorus Life started in Bergamo

21 February, Il Sole 24 Ore

In Bergamo, the requalification of the area formerly occupied by Ote has been recently launched. The completion of the works is expected for 2022. In an area covering 150 thousand Sq m, Chorus Life will include public and private functions, for a total investment of 200 million euro. Among the private services, there will be a multifunctional centre also featuring a café and a spa, a four-star hotel, 75 houses and shops. Chrous Life will also offer a public gym and various services and infrastructures.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Davis & Morgan plans investments for 50 million in 2020

13 February, Milano Finanza

The merchant bank Davis & Morgan seeks to consolidate its position in the asset-backed NPL market with planned investments for 50 million euro. The bank mainly focuses on residential, commercial assets and offices, mostly in Milan, Rome and luxury tourist destinations.

Source: Milano Finanza

Translator: Cristina Ambrosi

Milan: bid record from Fendi and Dior to secure a spot in Galleria

17 February, Corriere della Sera

Fendi and Dior are the new tenants of Galleria Vittorio Emanuele after having defeated the competition in the auction launched by the Municipality of Milan. Dior will pay a yearly rent of over 5 million euro for 253 Sq m, while Fendi adjudicated a 336 Sq m shop for 2.45 million euro a year.

Source: Corriere della Sera

Translator: Cristina Ambrosi

Lucca: Coima presented the plan for the requalification of the former tobacco factory

12 February, Lucca in Diretta

Coima, together with Fondazione Crl, has recently presented to the city administration of Lucca a financing plan for the requalification of the southern part of the former tobacco factory. The investment amounts to 60 million euro. The project implies the implementation of about 30,000 Sq m of pedestrian areas, two new squares, a passage linking the city walls, as well as the renovation of buildings for a total surface of 20,000 Sq m and the creation of 425 public parking spaces.

Source: Lucca in Diretta

Translator: Cristina Ambrosi

Rome: call for tenders for the requalification of dismantled industrial areas

12 February, Il Sole 24 Ore

Rome will take part in the international call for tenders C40 Reinventing Cities. The concerned assets are abandoned industrial plants such as Mira Lanza (24,244 Sq m) and Filanda (1,250 Sq m), the vacant area in Tuscolana station (49,800 Sq m), the Torre Spaccata market (2,308 Sq m), and the Vertunni Institute (8,370 Sq m). The program focuses on urban renewal and sustainability.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi