Portugal 
Spain 
Greece 
Poste Vita invests 2.6 billion in real estate
Poste Vita is positioning itself on the real estate market as one of the main players in the industry, with the aim of getting a real investment quota between 2 and 5% of the total assets managed by 2020. Even though we don’t hear talking about it very often, its investments strategy is going on since 2014 with assignments to third parties for consistent amounts. As that one that one year ago went to Ubs Asset Management Sgr whose real estate division incorporated an alternative real estate fund called Ubs-Diamond Eurozone Offices, aimed at investing on behalf of Poste Vita in the European office sector, starting from 300 million euro equity (to which the leverage must be added).
Of these investments in detail, however, we don’t know much. We are trying to explain since Poste Vita will continue investing in the real estate. Marco Plazzotta is leading the real estate compartment of Poste Vita, he’s a veteran of the Italian real estate ( he worked for ten years for Allianz Spa as head of real estate management). The investment strategy that started in 2014 from scratches, implies investing indirectly with two different approaches, one strategic (which represents three-quarters of the total real estate portfolio), and one tactical ( for a third). The target markets are those of the “Core Europe”, United Kingdom and Northern Europe. The diversification goes even further though, investing in USA and Canada in offices and shopping centres.
To implement this investment strategy, Poste Vita has selected, with the help of an International advisor, about ten of the best global fund managers, such as Ubs, DeAam, Cbre Global Investors. For what concerns instead the tactical portfolio, Poste Vita has started investing together with other institutional investors in about ten close-end real estate funds, with the objective of expanding the number of funds and managers.
For the implementation of this complex investment strategy, Poste Vita was awarded the Ipre real estate global award last month, which every year rewards the best practice at global level in the real estate industry of social security agencies, insurance companies and pension funds ( another Italian player that was awarded was Enpam).
Considered that the real estate activities aim at constituting the 2 to 5% of the total asset under management of the company, we are talking about 3-4 billion euro, which are for three-quarters the already mentioned strategic portfolio (with dedicated funds managed by selected managers) and the remaining quarter of the already existing funds where Poste Vita enters with its own share. From an analysis of the 2016 financial statement, we obtain that the total assets under management amount to 370 million euro. To reach the objective stated, therefore, the flow of investments towards the real estate will be very consistent, with a minimum of 2.6 billion additional euro in the next 3-4 years. The strategy for the next three years, according to Sole 24 Ore, should continue, even though the new Ceo Matteo Del Fante will have to take care of it in detail in order to implement the new strategic plan.
They are still to be appreciated instead the maxi real estate assets of Poste Italiane, about 1.7 billion euro for which, under the guidance of the former Ceo Francesco Caio, it was mentioned the possibility of transferring everything to a new society to be listed in Piazza Affari.