The Italian Real Estate Market in August

italia costa

Residential

UniCredit granted financing for 10.47 million € to Gong Capital (Casillo Group) for the restructuring of an entire building in Milan. The commercial surface of the building will be brought from 3,250 Sqm to 3,650 Sqm with the implementation of 51 residential units for sale.

Always in Milan, about 60 apartments of the residential project GS Towers – Green Soul Living had been sold in 40 minutes thanks to the new technology developed by Tecma Solutions which allows buyers to pay the house deposit online by card. Green Stone is the developer of the GS Towers, consisting of 120 residential units.

Offices

In Milan,Nexi bought from Banca d’Italia a building in Corso Sempione, Milan, for 40 million €. The asset is leased to Nexi Payments.

Meanwhile, Kryalos Sgr acquired from Covivio an office building covering a 4600 Sqm surface in Milan city centre. The asset is mainly occupied by offices, while the ground floor accommodates shops, offering good growth potential.

In Rome, BentallGreenOak successfully closed the sale of the office building Torre Moretti to Reale Immobili. The asset, which covers 6,000 Sqm and is located in Piazzale Flaminio in Rome, is partially leased to Banco Bpm.

Finally, Blue Sgr acquired from Coima a portfolio valued over 30 million € consisting of four assets for a total surface of 22,357 Sqm, three of which are located in Milan and one in Rome. Blue Sgr will renovate and re-lease the assets.

Banks

Intrum completed NPL operations on the Italian market totalling 1.9 billion €. Together with Deva Capital (Santander Group), Intrum acquired a leasing portfolio from Intesa Sanpaolo Provis and Ubi Leasing for a nominal value of 1.1 billion €, consisting of secured loans backed by approximately 750 assets.

Deva Capital and Intrum also entered an agreement to acquire from Intesa Sanpaolo a secured loans portfolio towards SMEs with a nominal value of 610 million €.

Finally, Intrum acquired from Intesa Sanpaolo and Bper an unsecured consumer credit portfolio with a nominal value of approximately 225 million €.

Retail

Following the divestiture process of its Italian stores, Carrefour sold its hypermarket in San Giuliano Milanese to Bennet. The hypermarket covers a 7,300 Sqm surface, while the shopping centre where it’s located has a Gla of 16,500 Sqm, including other 20 stores.

Savills Investment Management 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 (OTB Group). The buyer is Red Circle Srl, founder of the brand Diesel and OTB Group.

Logistics

BNP Paribas REIM Italy acquired a Class-A logistic asset in Villamarzana (Rovigo) which develops over a 44,800 Sqm surface.

Meanwhile, Hines entered an agreement to develop three new logistic assets in Tortona, Montichiari and Brescia for a total investment of 75 million €. The three assets, which cover a total surface of 100,000 Sqm, will be implemented in compliance with the ESG criteria and will be ready by the first half of 2023.

Alternative

CDS Holding acquired from Immobiliare Novoli an area in Novoli, Florence, to develop student halls for a total investment of 45 million €. Offering 400 beds, the student residence will be located near the new Novoli campus and will be inaugurated in September 2023.

B-Exclusives

Latest news