The assets of Popolare di Vicenza to be sold at auction

05 December, Milano Finanza

The auction for the real estate portfolio of the former Popolare di Vicenza will be launched in January-February. After two years, the liquidation administrators seem like they’re ready to repay the debts that Immobiliare Stampa (the company owning the properties) has towards banks. The dossier, which is curated by the advisor Vitale&Co, has already got the interest of some investors such the funds Apollo Global Management and Lonestar. The auction is meant to happen in just one lot, but the details will be defined in the upcoming weeks.

The portfolio is very interesting. Besides the prestigious offices in Milan and Rome of the former bank, there are also the former headquarters in Palazzo Thiene, Palazzo Repeta and Palazzo Negri, as well as a prestigious branch in Largo Tritone in Rome old town. We must remind that part of the real estate asset went to Intesa Sanpaolo during the bailout. They are mostly instrumental assets, functional to carry out the banking activity. Intesa Sanpaolo also got most of the assets formerly owned by Veneto Banca like Villa Spineda, the old bank’s headquarters and the directional offices in Montebelluna. The sale of the hotel San Marco in Cortina will also be launched soon with a separate auction. The hotel was acquired in 2011 for 12 million euro from the company Anpezo connected to Popolare di Vicenza. The asset will be allegedly put for sale at a selling price of approximately 8 million.

Source: Milano Finanza

Translator: Cristina Ambrosi

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