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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