The Italian Real Estate Market in September

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Residential

Merope Asset Management acquired a portfolio consisting of 10 trophy assets in Rome for 100 million €. The assets are mainly villas and former bank branches located in the exclusive Sallustiano district of Rome and are surrounded by a 17,000 Sqm park. Merope plans to invest 80 million € in renovating the assets according to the eco-sustainability criteria.

In Parma, Aquileia Capital Services presented its residential project Nopa to requalify the northern part of the city with an investment of 50 million €. The project, which has a duration of two years, concerns an area covering 31,471 Sqm.

Meanwhile, the social housing project Sesto Smart Village in Sesto Fiorentino (Florence) had been inaugurated, offering 140 homes. The project had been implemented through the funds Fondo Housing Toscano managed by InvestiRE SGR, which saw the Region of Tuscany among its investors, and Fondo Investimenti per l’Abitare FIA, managed Cassa Depositi e Prestiti.

Finally, in San Colombano (south of Milan), the Sila bus depot had been sold on auction to a local construction company, which will turn it into residences after having been vacant for twenty years.

Offices

In Milan, Castello Sgr acquired the office currently accommodating Kering from Bel Real Estate Group for 70 million €. The asset covers 15,000 Sqm and is one of the few in Italy to have obtained the LEED Core&Shell e Platinum Commercial Interior certifications.

Banks

The negotiation for the merger between UniCredit and Mps had been extended. The operation is rather risky due to the considerable amount of NPLs and credits at risk (15 billion €) held by Mps.  UniCredit aims mainly at the Mps branches in north and central Italy and the online bank Widiba.

Retail

Following a tender to allocate the commercial spaces in Galleria Vittorio Emanuele II, Milan, Gucci will get the space previously occupied by Dutti for 4.5 million € a year. Meanwhile, having exercised the pre-emption right, Chanel will keep the space allocated to its store and will requalify the former Cobianchi Hotel.

Hospitality

Radisson is expanding its presence in Italy with two new resorts under the brand Radisson Individuals in partnership with Mira with the inauguration of Borgo di Luce I Monasteri Golf Resort & Spa is in Siracusa and Alagna Mountain Resort & Spa in Piedmont.

Logistics

Following the joint venture between Goldman Sachs e Kervis Sgr to invest 1 billion € in Italian logistics, the new partnership acquired for 130 million € two plots of land in Bologna and Novara to develop next-generation logistic hubs.

Meanwhile, GLP completed the off-market acquisition of a logistic asset covering 27,000 Sq m in Santa Palomba (Rome) for 15 million € through a fund managed by Kryalos. The grade-A asset was sold by Orchidea Srl and is currently occupied by Carrefour.

Alternative

CampusX will shortly inaugurate under the brand CX Place two new facilities in Turin for 450 rooms and 600 beds.

B-Exclusives

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