Residential
In Milan, Borio Mangiarotti acquired for €20 million two adjacent industrial buildings which will be demolished to create 40 apartments covering 3,000 Sqm in total. The construction works are expected to start at the beginning of 2024.
Meanwhile, Kervis acquired for an undisclosed amount an office building in Nolo (North of Loreto), Milan, from Principal Asset Management, acting on behalf of Veld Capital, to reconvert into residential units. The property covers 9,000 Sqm.
Offices
Through its real estate investment fund Virtus, Kryalos sold an office and retail property in Milan to Inarcassa. Located near Piazza Duomo and Piazza San Babila, the asset has been recently renovated and consists of two connecting buildings.
Hospitality
In Rome, Zeitgeist Asset Management Italia announced the acquisition from Varde Partners of Midas Hotel in the Aurelio neighbourhood. Built in 1973 and renovated in 2021, the hotel offers 349 rooms, meeting rooms, three restaurants, tennis courts, and many other amenities.
In Florence, Tétris Italia (JLL Group) was appointed for the restructuring and renovation works of the former Grand Hotel Majestic to convert into a new H Hotel, a Marriott brand, offering 119 rooms. The five-star hotel will develop on a 10,7000 Sqm surface and over six floors.
Logistics
Barings acquired buildable land for over 100,000 Sqm to develop two grade-A logistic warehouses in Caorso (Piacenza) and Serravalle Scrivia (Alessandria). Both assets will have Leed Gold and Net Zero Carbon certifications.
