Antea RE srl, a special purpose vehicle owned by Ceetrus Italy spa (Auchan Group) and Runca srl, has received from a pool of banks a loan of approximately EUR 124 million to develop the To Dream mall in Turin (see the press release here), the first lot of which was unveiled this past April (see other BeBeez article).. The law firms Gianni & Origoni and Giovannelli e Associati respectively advised the financing banks and Antea RE.
We recall that To Dream is the largest Urban District in Piedmont, developing on a total area of 270,000 square metres, which used to be the site of the former Michelin factories, including an open mall and parking area, in a strategic position, at the centre of a road junction that represents the gateway to the city from the north-east and includes the A4 Turin-Milan motorway, the A55 Turin ring road and the SP11 (Corso Romania). The development integrates shopping, leisure, services, offices and hospitality and will be home to the new Michelin headquarters, among others. At the moment, about 25,000 square metres of retail, catering and services (56 activities, including 14 restaurants) have opened, with the second phase of opening scheduled for next year.
To Dream is an investment made by Romania Sviluppo, a special-purpose company set up to develop the initiative, in which Ceetrus – a Global Urban Player controlled by the Auchan group – and Runca, a company with expertise in commercial developments, participate. The property manager is the real estate solutions company Nhood (Auchan group), while the project sponsor is New Immo Holding sa, owned by Ceetrus and Nhood. The commercialisation is by Realia. The project is directed by Master Retail in the role of general contractor, project management and pilotage. The design is the work of architect Adolfo Suarez, director of L22 Retail, a brand of the Lombardini22 Group.
As a reminder, the Auchan group is part of the AFM group, owned by the Mulliez family, to which around 200 companies in over 50 countries belong, including Decathlon, Leroy Merlin, Brico, Norauto, Midas and Kiabi. Ceetrus and Nhood are also working in Italy on the management of the track-covering infrastructure of the regional railway line between the Milano Cadorna railway station in Milan and the via Mario Pagano bridge (see here a previous article by BeBeez). The operation will take place in a public-private partnership and has a total estimated value of around EUR 800 million, with a public contribution of EUR 180 million.
Other projects managed in Italy by Nhood include, for example, the one launched in 2021 of LOC-Loreto Open Community, for the regeneration of Piazzale Loreto in Milan, and the one, in 2022, of Dropcity – Centro di Architettura e Design (see here a previous article by BeBeez), which envisages the regeneration of 10,000 square metres of the Magazzini Raccordati of Milan’s central station with a total investment of €16 million. In Italy, Nhood is headquartered in Milan, and manages 44 commercial assets with a total real estate value of around EUR 1.7 billion. In the world, instead, there are a total of 297 assets in the portfolio for an asset value of about 8 billion euro.
