Tulipa, a vehicle that Finint Investments manages, said it acquired NoMo District, a group of Rome-based lands with a total building capacity in the region of 220000 sqms (see here a previous post by BeBeez). Tulipa attracted the resources of Fondo Olympus, a vehichle that Finint Investments and ARECneprix (illimity) handle as asset manager and as credit special servicer. Such residential development will require an investment of 100 million euros. Kroll Real Estate Advisory Group, DLA Piper, Legance and Studio Galante assisted Tulipa. Giovanardi and CRCCD advised for the financing.
KREF2 (Kervis Real Estate Fund II), a vehicle of Kervis Asset Management, acquired a 9000 sqms real estate asset based in Milan’s via Tortona (see here a previous post by BeBeez). The buyer received assistance from Greenberg Traurig Santa Maria, Studio Todarello and EY. Ashurst and Pirola Pennuto Zei & Associati advised the vendors. Matteo Thun & Partners carried on the project of the asset which has a BREEAM in Use Good certification. KREF2 aims to convert the asset from business to residential purposes. The fund aims to invest 300 million euros in Milan and already raised 120 million ahead of a target of 150 million.
InvestiRE‘s iGeneration, a vehicle that aims to invest 140 million euros for building Italian students halls, said it will carry on the the development of a Padua-based 8900 sqms residence for 350 guests (see here a previous post by BeBeez). Archipolis and CEV will handle the project and the development of the asset while Fondazione Camplus will manage the residence. InvestiRE is part of Banca Finnat.
Mars, a real estate investor in last-mile logistic that Blackstone subscribed and Kryalos manages, acquired from AXA IM Alts a 47500 sqms asset based in Gorgonzola, Milan area (see here a previous post by BeBeez). The vendor retained Dils as advisor.
Equita Green Impact Fund (EGIF), part of Equita Capital (a subsidiary of Milan-listed Equita), attracted 30 million euros from CDP Real Asset‘s FoF (Fund of Funds) Infrastrutture (see here a previous post by BeBeez). EGIF aims to invest in Italian greenfield renewable energy projects (65%) and set a fundraising target of 200 – 250 million. Sources previously said to BeBeez that EGIF was in talks with CDP Real Assets and the European Investment Fund.
On 16 February, Friday, Milan and Paris-listed real estate investor Covivio said that its 2023 revenues amounted to 1 billion euros (see here a previous post by BeBeez). Covivio expects to increment profits by 1% in 2024 while carrying on deleveraging disposals worth 1.5 billion for 2023-24. The firm may pay a dividend of 3,30 euros per share. Alexei Dal Pastro, the ceo of Covivio’s Italian unit, said to BeBeez that the company is still holding talks with AccorInvest for acquiring its hotel assets.
