Sources said to BeBeez that Kryalos‘ real estate vehicle Mazer acquired for 20 million euros a Rome-based land of 57158 sqms ahead of the development of a logistic asset built-to suit (see here a previous post by BeBeez). Paolo Bottelli is the ceo of Kryalos.
Italian real estate developer Borio Mangiarotti signed a preliminary agreement for acquiring a 35000 sqms land in Milan’s Bonola area (see here a previous post by BeBeez). Värde Partners owns 20% of the firm since 2019. Borio will build 500 flats (with a relevant amount of social housing apartments) and 500 garages. AGP – Anna Giorgi and Partners is in charge of the project. Edoardo De Albertis is the ceo of Borio Mangiarotti which hired Todarello & Partners and has sales of 110 million euros, an ebitda of minus 3.2 million, net profits in the region of 0.2 million, a net financial debt of 7.1 millioni, equity of 48 million, and a portfolio of projects in development worth 250 million.
Italian real estate investor IPI is mulling for a multitranches issuance of a 20 million euros floating rate secured bond maturing on 11 September 2028 (see here a previous post by BeBeez). The bond has an amortizing structure for repayment. Qualified investor can purchase tickets of at least 0.1 million of the Milan-listed bond between 12 September, Tuesday, and 31 December 2024. The issuance pays a coupon of 12M Euribor plus a 500 bps. The investors will receive one or more mortgages of IPI on real estate assets that the company will disclose at the end of the subscription period. The assets will be worth 125% of the bond’s face value. IPI real estate assets are worth 256.8 million. The company has revenues of 59.8 million, an ebitda of 7.8 million, a net financial debt of 137.6 million, cash of 20 million, and equity of 117.3 million. IPI belongs to its chairman Massimo Segre (98.78%) and ceo Vittorio Moscatelli (less than 1%).
