The Italian Real Estate Market in August

Milan1 2

Offices

InvestiRE bought a trophy asset in Milan for €27.95 million from Mediolanum Gestione Fondi Sgr. The property is entirely leased and covers 4,000 Sqm.

Always in Milan, Kryalos Sgr sold an entire office building to a club deal coordinated by Mediobanca. Kryalos will continue managing the asset, given their knowledge of the building and their track record. The asset covers 30,000 Sqm developing over eight floors and is entirely leased to a major Italian bank. The operation had been funded through Green Loan, being the property LEED Gold- and BREEAM-certified.

Banks

Following a tender, NPLs amounting to €900 million originated from MPS (Banca Montepaschi di Siena) were assigned to Intrum (€365 million), Amco (€208 million) and Illimity (€340 million). The transaction will be finalised by Q4 2022.

Hospitality

French asset manager Perial acquired from Castello Sgr the five-star hotel Almar Jesolo Resort & Spa in Jesolo (Venice). The hotel develops over nine floors and covers approximately 13,000 Sqm, offering six conference rooms, four restaurants and 179 rooms, along with a 12,000 Sqm private beach. The hotel is managed by HNH Hospitality with a long-term lease agreement.

Alternative

Through a sale and lease-back operation, Blue SGR acquired from Colisée a real estate portfolio consisting of two assisted living facilities in Novara and Beinasco (Piedmont) for €22 million. The properties are recently-built and offer 210 beds in total.

B-Exclusives

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