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offices Market News: Spanish Real Estate Intelligence

Banks are selling real estate assets for 850 million euro
17 September, Il Sole 24 Ore The office assets put for sale by banks are worth 850 million euro altogether. Mps has recently received the offers for its portfolio valued 300 million which includes prime assets in Milan, Rome, Florence and Padova. The candidates are Apollo, Varde, Blackstone, Cerberus, Partners group, Starwood, Bain capital, Oaktree, and Lonestar. The binding offers are expected by the end of September. Meanwhile, the operation concerning the sale of 99.92% of Immobiliare Stampa is about to come to an end. The company owns real estate assets for about 200 million euro, as well as debts. Bain Capital has allegedly exclusive rights on the portfolio. Finally, Orion is aiming at the Rome BNL headquarters. The building might be converted into a luxury hotel, as BNL appointed the Raffles (Accor) for its management. The bank expects to sell the asset for 250 million euro. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
Amundi acquired an office building in Milan from Ubs for 48.5 million euro
12 September, Bebeez Amundi Real Estate Italia sgr bought from Ubs the office building located in Via Gustavo Fara 26 in Milan for 48.5 million euro. The asset has a surface of 9,400 Sq m, it has been recently requalified, and it’s leased to multiple tenants. The building also offers a good growth potential in terms of rentals, considering its high-quality spaces and its excellent location. Source: Bebeez Translator: Cristina Ambrosi