Ardian and Prelios sold 23000 sqms Deloitte Headquarter in Rome’s iconic Via Veneto to a fund that IQ EQ manages on behalf of German investor Deka Immobilien (see here a previous post by BeBeez). The vendors said to BeBeez that the parties signed a preliminary agreement for 270 million euros. Ardian acquired the asset from Cloe Fondo Uffici, a vehicle that Prelios used to manage and own six assets worth 300 million. Dils acted as commercial advisor. Ardian and Prelios received assistance from Apollo & Associati, Fivelex and Perelli Consulting. Deka hired Bertacco Recla & Partners, Bureau Plattner, Drees & Sommere, and Cushman & Wakefield.
Milan-listed Igd-Immobiliare Grande Distribuzione signed an agreement with Sixth Street and Starwood Capital for selling 60% of a retail assets portfolio (see here a previous post by BeBeez). The assets are based in the Centre and the North of Italy and generate rent revenues of 17 million euros per year. Igd will sell the portfolio to REIF Food Fund, a vehicle that Prelios manages, for 258 million euros and acquire 40% the buyer’s B-shares. Sixth Street and Starwood Capital will even split 60% of Food Fund’s A-shares with senior yield. Igd will sign with Prelios a contract for property & facility and project management activities of such portfolio ahead of a future sale. Igd also said that the interest costs for its liabilites in 2023 increased from 2.26% to 3.86% while the book value of its real estate assets amounts to 1.968 billion (2.08 billion at the end of June 2023). (see here a previous post by BeBeez)
PGIM Real Estate, a real estate investor with 210 billion US Dollars of aum that is part of Prudential Financial, acquired two logistic assets based in Milan area with a total surface of 41000 sqms to DHL Supply Chain Italia, sources said to BeBeez (see here a previous post by BeBeez). Musie Bocrezian is the head of Italy transactions of PGIM Real Estate.
Pohl Immobilien, an Italian real estate developer, issued a three million euros minibond maturing in 2029 for which the European Investment Fund provided a warranty through the programme Invest EU Sustainability (see here a previous post by BeBeez). Mediocredito Trentino-Alto Adige subscribed the bond. IFA Financial Service assisted Pohl Immobilien of which Hans Martin Phol, Magdalena Phol and Michael Phol equally split 84.56%. Hans Martin Pohl has a further 7.72% and Eva Maria Tumler owns 7.72%. Phol Immobilien has net revenues of 12.5 million euros, an ebitda of 1.5 million, a net financial debt of 12.3 million, and equity of 11 million.
Aegide Milano Vivarini, a real estate developler that belongs to French Aegide, sold a Milan-based 8000 sqms building area to an undisclosed international investor (see here a previous post by BeBeez). Market rumours say that PGIM Real Estate, part of Prudential Financial, could be the buyer.
Zurich-listed Partners Group, Investire and Impresa Tonon invested in five last mile and big box logistic assets with a total surface of 100000 sqms ahead of an expansion pipeline of 400000 sqms in 18-24 months (see here a previous post by BeBeez). Partners Group will channel its resources through a fund that Investire manages while Impresa Tonon will handle the assets development. In July 2023, the fund attracted 50 million euros from Unicredit. Legance, Ropes & Grey, EY, Avalon Consulting and CBRE advised Partners Group. In 4Q23, the fund received the authorization for building a A class last mile logistic asset in the North Eastern Italian area of Udine.
Milan-listed Mediobanca and UBS Asset Management, Multi-Managers Real Estate signed a strategic partnership and launched Mediobanca UBS Global Real Estate Co-Investment Opportunities (see here a previous post by BeBeez). The Italian investors that will subscribe to the vehicle’s shares will gain access to co-investiments in international deals.
