P&G sgr launched P&G UTP Management Fund to manage UTPs

27 November, Bebeez

P&G sgr has recently announced its new fund P&G UTP Management dedicated to UTP management. The fund has already gathered UTPs for a value of 19.3 million € originated from small- and medium-sized banks. P&G sgr plans to launch in the future other funds focusing on NPLs, UTPs and invoice financing.

Source: Bebeez

Translator: Cristina Ambrosi

Milan: the requalification of the old tobacco factory in Bicocca has started

25 November, Monitor Immobiliare

Following the sale of all its share capital with the support of Cbre, Manifatture Milano S.p.A., the joint venture of Focus Investments S.p.A. and CDP Immobiliare Srl, is about to launch the requalification of the old tobacco factory (Ex Manifattura Tabacchi) in Bicocca, Milan. With a 41,000 Sq m surface, the asset will be divided into four lots, accommodating homes, student halls, social housing and public services.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

Borgosesia acquired a construction site in Milan

25 November, Monitor Immobiliare

Borgosesia took over a construction site for 15 residential units and 75 parking spots in the Bovisa area, Milan. The acquisition was the result of a bankruptcy procedure where Borgosesia subsidiary Isloft srl acted as assignee. The company plans to restructure the assets with an investment of approximately 3.3 million € before putting them on the market.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

Panificio Bergamini has been awarded vacant site in Bobbio (Piacenza)

25 November, Libertà

Panificio Bergamini got a plot of land in Bobbio (province of Piacenza) covering 55,000 Sq m. The area had been auctioned following the bankruptcy of the Turin-based company Terme di Bobbio Village which was meant to build a spa complex on the site.

Source: Libertà

Translator: Cristina Ambrosi

Milan: Hotel Meliá to open in Piazza Cordusio

24 November, Il Sole 24 Ore

Generali announced that a five-star hotel under the brand Meliá would open in Palazzo Venezia in Piazza Cordusio, Milan. The insurance company owns and manages the building through Generali Real Estate Sgr. The hotel will be inaugurated in 2023, following the complete restoration of the asset.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

House investment purchases dropped in Fano as a result of Covid

20 November, Il Resto del Carlino

Tecnocasa reports that in Fano (Province of Pesaro-Urbino), property investment purchases dropped from 17.9% in 2019 to the current 16.8%. The downturn is due to the uncertainty related to Covid, which curbed the investments.

Source: Il Resto del Carlino

Translator: Cristina Ambrosi

Brescia: spike of demand near the hospital, declining prices in Folzano and Casazza

20 November, Corriere della Sera

In its latest report, the real estate platform Casa.it showed how the real estate market in Brescia has changed over the year. The most sought-after areas are near the city hospital, such as Via Crocifissa di Rosa and Piazzale Battisti, which attracted 36% of the online searches. Prices in this part of Brescia increased by 22% from 2019, with an average price of 1,900 euro/Sq m. On the other hand, prices sank in Folzano (-29%, 1,400 euro/Sq m) and Casazza (-22%, 1,500 euro/Sq m).

Source: Corriere della Sera

Translator: Cristina Ambrosi

Montecatini Terme: the spa complex might go to a foreign buyer

20 November, La Nazione

Following the tender launched by the municipality of Montecatini Terme, the world-famous spa complex might go to a foreign investor and be used for a project concerning senior citizens. Following this manifestation of interest, the city administration hasn’t made a binding offer yet, as it’s waiting for the final approval from the city planning.

Source: La Nazione

Translator: Cristina Ambrosi

Naples residential market shows declining transactions and stable prices

19 November, Il Denaro

Gabetti reports that, in the first nine months of 2020, property prices on the Naples real estate market have remained stable (-0.3%) compared to 2019, although transactions declined by 28.1% from the same period.

Posillipo and Chiaia are still the most expensive parts of the city with prices between 5.500-6,200 euro/Sq m, while prices in the Old Town are set between 2,600 – 2,750 euro/Sq m. Finally, the areas of Materdei Vecchia, Sanità, San Lorenzo, Vicaria and Mercato report lower prices ranging from 1,725 to 2,200 euro/Sq m.

Source: Il Denaro

Translator: Cristina Ambrosi

Treviso: the former Fornace Guerra-Gregorj is for sale

20 November, Treviso Today

ImpREsa, a real estate company operating in Veneto and Friuli, has put for sale the former furnace plant Guerra-Gregorj in Treviso. The plant covers a surface of 18,000 euro/Sq m, and its value is assessed around 2 million €. It might be converted into apartments (about 32-26 residential units, including lofts) or offices and other commercial properties.

Source: Treviso Today

Translator: Cristina Ambrosi