23 May, Mark Up
With the assistance of Cbre, Indotek acquired a grocery portfolio consisting of 13 Carrefour supermarkets from Reale Group. This is the first operation in Italy of the Hungarian investment management firm. The supermarkets are mainly located in northern Italy and cover in total 40,000 Sqm.
Source: Mark Up
Translator: Cristina Ambrosi
02 August, CBRE
Savills Investment Management, with the assistance of CBRE, sold the high-street retail part (640 Sqm) of a prestigious mixed-use building located in Quadrilatero, Milan. The store accommodates the luxury brand Jil Sander, which belongs to OTB Group (Only The Brave). The buyer is Red Circle Srl, founder of the brand Diesel and OTB Group.
Source: CBRE
Translator: Cristina Ambrosi
19 April, Monitor Immobiliare
Kervis Sgr, with the assistance of Cbre, sold to an Italian social security fund a retail space currently leased to Esselunga in Via Arco 2, in the centre of Milan. Recently requalified, the property was inaugurated in November 2020.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi
14 January, Mark Up
Commercial real estate investments in 2020 amounted to 8.8 billion €, having declined by 29% from 2019 (12 billion €). Foreign investments went from 69% to 58%. However, this doesn’t mean the Italian market lost its appeal, it rather reflects a cautionary approach due to the current uncertainty.
Logistics performed exceptionally well. With investments totalling 1.4 billion € entirely from foreign investors, it proved to be the most resilient sector of 2020, outperforming 2019.
Palazzo Delle Poste in Piazza Cordusio, Milan, was the biggest retail operation of 2020 with 250 million €. Apart from that, retail closed with -29%.
The office segment kept its leading position with 3.7 billion € invested, reporting a 26% decrease from the previous year.
Hospitality registered investments for about 1 billion €, resulting in a 68% decline compared to 2019, which reported an all-time high.
Residential investments amounted to 580 million €, mostly focusing on developments projects, especially in big cities, due to the lack of available assets on the market.
Source: Mark Up
Translator: Cristina Ambrosi
25 November, Monitor Immobiliare
Following the sale of all its share capital with the support of Cbre, Manifatture Milano S.p.A., the joint venture of Focus Investments S.p.A. and CDP Immobiliare Srl, is about to launch the requalification of the old tobacco factory (Ex Manifattura Tabacchi) in Bicocca, Milan. With a 41,000 Sq m surface, the asset will be divided into four lots, accommodating homes, student halls, social housing and public services.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi
06 May, Il Sole 24 Ore
The pandemic has strongly impacted the retail sector, which was already struggling due to the rise of e-commerce. The shopping centres currently unsold in Italy amount to 6 billion euro. On the other hand, mass retail and supermarkets reported good results. Cbre, for example, is about to sell a portfolio consisting of supermarkets (sale & leaseback) for 150 million.
Meanwhile, many projects had been suspended, such as Roma Est between the Singapore sovereign fund Gic and a joint venture of Cbre and Klépierre, valued 400 million euro. In Milan, Bicocca Village (80 million) hasn’t found a buyer yet.
Finally, the Carrefour’s Cash & Carry portfolio (70 million) might be sold soon to an international investor through a Kryalos fund.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
17 March, Il Sole 24 Ore
In its latest report, Cbre analyses the effect of coronavirus on the EMEA real estate market. According to Cbre, the impact will be only in the short-term, and, since investments tend to be slower in the first quarter, the market will have the chance to recoup later in the year, reducing the negative impact.
While the office segment doesn’t seem to have been significantly affected so far, the pandemic might have severe consequences on the sectors which are strictly connected with tourism, such as hospitality and high-street retail. The possible closure of factories might impact logistics. On the other hand, the sector may benefit from the rise of e-commerce.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi
25 February, Monitor Immobiliare
Cbre reports that investments in the Italian logistics real estate sector in 2019 amounted to 1.3 billion euro. Such an excellent result is due to the increased number of international investors present on the national market, which tends to focus on the Milan greater area.
There are investments in the 2020 pipeline for 1 million Sq m, corresponding to a 6% growth of the existing stock. The demand still limits to global players such as Amazon, Yoox or Zalando. Still, there is an emerging trend of retailers operating online. As a result, the demand for facilities of smaller dimensions is growing. At the same time, last-mile logistics is also expanding, although its growth is limited by the modest number of assets.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi
12 February, Idealista
Cbre reports that 2019 closed with excellent results concerning the office market with investments for 5 billion euro, nearly double than 2018, confirming to be investors’ favourite asset class. Milan concentrated 70% of the total investments, equal to 3.7 billion euro. The outlook is for a growth of the emerging districts such as the former Expo area, the old rail yards, the former Falck area and Santa Giulia. Rome reported investments for about 1 billion euro in 2019, registering a slight decline from the previous year. Here, investments tend to focus in Eur. The expansion trend of the office market is expected to continue also in 2020, with a possible shift of focus from Milan to Rome due to the highest returns provided by core and core-plus assets.
Source: Idealista
Translator: Cristina Ambrosi
30 January, Logisticamente
CBRE reports that the Italian logistics real estate market has been growing for the last three years, thanks to the foreign investments and some large-scale portfolio acquisitions. Over 80% of the facilities have been built according to the occupant’s specific requirements. The demand for facilities of small dimensions (smaller than 30 thousand Sq m) had grown, while some new typologies, like last-mile warehouses, emerged.
Source: Logisticamente
Translator: Cristina Ambrosi
Portugal 
Spain 
Greece 
