Venice: Casa dei Tre Oci sold to the Berggruen Institute

25 February, Monitor Immobiliare

The historical building known as Casa dei Tre Oci in the island of Giudecca, Venice, has been sold by Fondazione Venezia to the Berggruen Institute, an independent think tank and non-profit organization focused on international policies and the global challenges of the 21st century. Fondazione Venezia has recently sold several of its assets, whose estimate value amounts to 400 million €.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

Auctioned houses have doubled in Piedmont

24 February, Corriere della Sera

Sogeea reports a surge in Italy’s auctioned properties resulting from foreclosures, registering a 63.5% increase in the last six months. In Piedmont, property auctions have more than doubled, representing 11% of the country’s total auctions. Asti reported the highest increase (+413.89%), followed by Turin (+114.28%), Alessandria (+53.42%), Cuneo (+36.09%) and Biella (+13.79%).

Source: Corriere della Sera

Translator: Cristina Ambrosi

Arsenale acquired Hotel de La Minerve in Rome

22 February, Il Sole 24 Ore

Arsenale signed the preliminary agreement for the purchase of the luxury hotel de La Minerve in Rome. The hotel, which occupies a 17th-century building, will continue to be managed by the current owner, the Billi family, until the renovation works starting in 2022. The hotel will then re-open under the management of Gruppo Accor with the brand Orient Express.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Baglioni Hotels & Resorts to manage a five-star hotel in Puntaldia, Sardinia

17 February, Monitor Immobiliare

Baglioni Hotels & Resorts will be the new manager of Paradise Resort & SPA, the five-star hotel in Puntaldia (San Teodoro, Sardinia). The hotel will be re-branded Baglioni Resort Puntaldia, joining The Leading Hotels of the World, and will open in June 2021. Cushman & Wakefield acted as advisor for the selection of the new manager.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

95% of transactions for logistic asset finalises in 12 months

17 February, TCE Magazine

Nomisma and World Capital’s latest joint survey shows that the logistic real estate sector is in good shape, with 95% of the transactions finalised within a year. The demand focuses on spaces between 5,000 and 15,000 Sq m. Rents are higher in Milan and Genoa, while Florence reports the highest national prime rent with 72 euro/Sq m a year. Yields recorded a contraction compared to the past (over 8% in 2005), with Milan reporting a 5.3% average net yield in the second half of 2020.

Overall, the sector responded well to the pandemic. The challenge ahead will be meeting the consumers’ needs, which are increasingly leaning towards online purchases. At the same time, investors will have to bet on flexible solutions to adjust quickly to the market’s changes.

Source: TCE Magazine

Translator: Cristina Ambrosi

The limited supply of luxury properties boosts prices in Rome

17 February, Il Sole 24 Ore

Casa.it reports that Rome’s luxury real estate property market grew by 25% in 2020 despite the crisis. The majority of luxury houses concentrates in the old town and Parioli, Flaminio, Olgiata Giustiniana, Cassia Flaminia, Prati, Trieste, and Eur. Such areas generate 75% of the revenues for this specific segment.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Kryalos acquired three logistic hubs in Verona and Bergamo

16 February, Finance Community

Kryalos completed the acquisition of two last-mile logistic hubs in the province of Bergamo, in Ghisalba and Martinengo, and one near Verona, in Colognola ai Colli. All assets are currently occupied by Performance in Lighting, which designs and produces lighting solutions. The Colognola ai Colli e Ghisalba hubs will be leased long-term to the current tenant, while the asset in Martinengo will be put on the market.

Source: Finance Community

Translator: Cristina Ambrosi

Kryalos sold office building in Rome

12 February, Linkedin

Through its fund Perseus, Kryalos Sgr completed the sale of a property in Rome, in Via Donizetti, not far from Villa Borghese. The asset consists of a historical villa converted into offices and developing over four levels for a total 2,278 Sq m GLA.

Source: Linkedin

Translator: Cristina Ambrosi

Kryalos acquired three last-mile logistic assets covering 39,000 Sq m total surface

10 February, Kryalos

Through its closed-end real estate alternative investment fund Venus, Kryalos Sgr completed the acquisition of three last-mile logistic assets covering a total surface of 39,000 Sq m. The assets are located near Verona, in Colognola ai Colli, and in Ghisalba and Martinengo, both in the province of Bergamo. All assets are currently leased to an international company operating in the design and production of lighting solutions.

Source: Kryalos

Translator: Cristina Ambrosi

EY: hospitality investments slowly on the rise although prices declined by 30%

09 February, Il Sole 24 Ore

EY estimates that investments in the Italian hospitality sector will amount to approximately 1.5 billion € in 2021, registering a slight increase from 2020 (-68% from 2019). Although the market still offers investment opportunities, transactions are being closed at discounted prices (5-10% less for luxury hotels and 25-30% for the other segments). Moreover, the market is expected to fully recover only in 2023.

In 2020 Venice was the most sought-after location with investments for 413 million € (39% of the total investments), followed by Rome (26%), Florence (11%) and Milan (7%). Venice also remained the most expensive city in Italy with prices per room averaging 540 thousand €, followed by Rome (248 thousand €), Florence (200 thousand €) and Milan (90 thousand €).

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi