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The Italian Real Estate Market in March

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BC Partners completed its first operation in Italy with the acquisition of a residential portfolio mainly consisting of two assets near Bocconi University, Milan, which BC Partners will convert into high-end apartments for sale.

Meanwhile, Henderson Park bought from A2A three assets in Milan for a total value of €221 million which to be turned into residential units.


Patrizia AG bought from RealStep an entire office building (11,000 Sqm) in Via Ripamonti, Milan. The area is undergoing a requalification process as it prepares to accommodate the Olympic Village for the 2026 winter games.

Artisa Group AG entered a preliminary contract to acquire an office building (3,000 Sqm) in the Quadrilatero area, Milan, from Torre Sgr for €35.5 million.

BC Partners and Kervis Group acquired from Europ Assistance Italia an office complex in Porta Romana, Milan. The investors will requalify the asset to develop offices and residences for sale covering a total surface of 9,000 Sqm.

In Porta Nuova, Milan, Coima RES entered an agreement to acquire an office building (7,400 Sqm) from Effepi Real Estate for €58.2 million. The asset will be developed with an investment amounting to €30 million. The closing of the operation is expected by the end of Q1 2022.

BFF signed the agreement for the acquisition and the development of a 3,000 Sqm surface from Fondazione Fiera, near FieraMilanoCity, Milan. The bank plans to build in the area its new HQ, where it will relocate over 500 employees, covering a total surface of 9,000 Sqm.

Finally, Antirion bought from Savills former Pirelli Tyre offices named HQ2 in Bicocca, Milan, covering 15,000 Sqm.


Kryalos and EY launched a new investment fund dedicated to UTPs with an initial transfer of credits for a €130 million GBV from Banco Desio, BPER Banca, Banca del Fucino and Cassa di Risparmio di Volterra. The credits are 56% real estate assets, while the remainder is backed by assets.


Prelios sold a retail asset with Leroy Merlin as the main tenant to InvestiRE SGR. The asset covers 12,500 Sqm and is located in Afragola (Naples).

In Santa Giulia, Milan, Lendlease signed the first binding agreements for the creation of Spark Food District, which will open on the ground floor of the buildings Spark One and Spark Two. The food district will cover 2,100 Sqm in total.

Always in Milan, following the tender launched by the city administration, Tod’s will lease a commercial space in Galleria Vittorio Emanuele, Milan, for €1.805 million a year.


Meininger Hotels entered a lease agreement for the management of a former hostel in Mestre (Venice) for a total of 434 beds and a 4,500 Sqm surface.


Kryalos Sgr acquired five logistic assets in northern and central Italy, covering 43,000 Sqm in total. Three assets are located in the Milan area, while the other two are in Parma and Rome.

Meanwhile, LaSalle bought the logistic hub Verona DC1 from DeA Capital Real Estate. The asset is located in Verona and has a leasable area of 128,000 Sqm. It was built in 2019 for its tenant, online retailer Zalando.

DeA Capital Real Estate completed the acquisition of a logistic asset in Passo Corese (Rieti) covering 60,000 Sqm.

Finally, VGP acquired two areas north of Milan to develop VGP Park Milano Paderno Dugnano (95,000 Sqm) and VGP Park Legnano (50,000 Sqm). 

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