11 May, La Stampa
Azimut signed for 38 million € the preliminary contract to acquire from a private seller a part of the former La Stampa offices in Via Marenco, Turin, which will be converted into facilities of the University of Turin. The asset, which covers approximately 16,000 Sq m, will accommodate classrooms and various facilities, as well as the University archives. The operation was funded by Banco Bpm and Intesa Sanpaolo.
Source: La Stampa
Translator: Cristina Ambrosi
27 May, Monitor Immobiliare
The Italian Revenue Agency reports that all non-residential properties registered negative results in terms of transactions in 2020: 10.3% for offices, -14.5% for shops and 12.9% for industrial properties. However, starting from December 2020, the trend started improving and kept growing throughout the first quarter of 2021.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi
28 May, Finance Community
Enpam sold the Project Dream portfolio to Apollo Global Management for 842 million €, resulting in a 156 million € capital gain. The portfolio includes 68 assets, mainly offices, located in Rome and Lombardy and covering about one million Sq m. Lazard acted as the financial advisor for Apollo.
Source: Finance Community
Translator: Cristina Ambrosi
26 May, Finanza Report
Intesa Sanpaolo moves forward with their NPL reduction process and puts on the market NPLs deriving from leasing for an amount of 4 billion €. Among the potential buyers there are Bain Capital Credit, Fortress, Intrum, Prelios and Fonspa. Mediobanca coordinates the operation.
Source: Finanza Report
Translator: Cristina Ambrosi
26 May, Bebeez
The construction group Vitali spa started the preliminary works to requalify the former Rizzoli area, Milan, covering 50,000 Sq m. Once accommodating the operations of the publishing house, the area will be converted into offices, coworking spaces and leisure facilities under the project named Welcome, Feeling at Home. The site was acquired in May 2020 by Pine Bridge Benson Elliot from Iniziativa Immobiliare Due srl.
Source: Bebeez
Translator: Cristina Ambrosi
24 May, Monitor Immobiliare
AKNO, specialised in the construction and development of logistic parks, is about to launch the works for AKNO Settala 2 Business Park in Settala (Milan) for a total surface of 53,000 Sq m. The park will be entirely located to the German chemical group Henkel. The construction will start after the recovery and requalification of the existing area of the former Henkel plant. The completion of the business park is expected by December 2021.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi
24 May, Monitor Immobiliare
M&G plans to invest through forward funding 63 million € to implement a student living facility in Turin. Located in Cenisia and conveniently reachable from Porta Susa train station and Politecnico university, the facility will offer 582 beds and develop over five floors. The building will be LEED Gold certified and will also feature an 8,500 Sq m park.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi
24 May, Liguria Business Journal
Vastint plans to invest 23 million € in the development of a four-star Marriott hotel in Genova, offering 144 rooms. Located in the San Teodoro area, it will be the first eco-friendly hotel in the city, using materials such as cross-laminated timber. Vastint also aims at requalifying the surrounding area with the creation of a plaza in front of the hotel. The inauguration will be in 2023.
Source: Liguria Business Journal
Translator: Cristina Ambrosi
21 May, Milano Finanza
With a bid of 52.5 million €, Stella Real Estate won the auction launched by the City of Milan for the building in Largo Treves, in the Brera district of Milan, managing to beat big players such as Generali, Kervis, Coima, and Benetton. Stella Real Estate will convert the asset into residential units.
Source: Milano Finanza
Translator: Cristina Ambrosi
21 May, Milano Finanza
With the project MoLeCoLa (Mobility, Learning, Community Lab), Hines seems to be the winner of Reinventing Cities, the call for bids launched by the City of Milan to requalify the Bovisa area. However, the proposal is still under review due to budget requirements related to the lot owned by Ferrovie Nord, implying the construction of the new company HQ for 18 million €, as opposed to 60 million proposed by Hines. The project also includes two student living facilities, short-term rentals, green areas and sports facilities.
Source: Milano Finanza
Translator: Cristina Ambrosi
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