Blackstone‘s vehicle Blackstone Property Partners Europe Holding (BPPEH) sold for 1.3 billion euros Milan building in Via Montenapoleone 8 to French luxury giant Kering (see here a previous post by BeBeez). The buyer will carry on with co-investors the acquisition of Reale Compagnia Italiana, the building’s owner that BPPEH delisted in 2022 from Milan market through a public offer. Blackstone paid 1.1 billion for the whole portfolios of Reale Compagnia.
SGT AREO Umbrella real Estate (Italy) Fund, a vehicle that Sagitta and Europa Investimenti (part of Arrow Capital), acquired two Milan-based buildings from DeA Capital Real Estate and Castello (see here a previous post by BeBeez). UniCredit will finance the acquisition of the 16000 sqms assets in the former Richard Ginori area (Navigli). JLL, Dils, SI – Studio Inzaghi, Yard Reaas, Asti Architetti, Planeta Studio Associato, J&A Consultants, Dentons, and Studio Debernardi e Associati acted as advisors. Marco Grimaldi acts as Italy country manager for Arrow Global. SGT AREO will develop luxury residential buildings in the area.
Fondo Nazionale dell’Abitare Sociale (FNAS), a vehicle that CDP Real Asset manages, will invest 40 million euros in Fondo Pitagora, part of Finint Investments, that now raised a total of 80 million ahead of a 150 million target (see here a previous post by BeBeez). Fondo Pitagora will develop students houses in Padua, Modena and Pisa.
Cloud Care, a portfolio company of Investcorp, said it acquired the majority of Crea.re Digital and of its real estate marketplace for accommodation and mortgages vivoqui.it (see here a previous post by BeBeez).
Real Estate consultant and service provider YARD Reaas, a firm that Emanuele Bellani heads, sold a majority stake to AnaCap (see here a previous post by BeBeez). Bellani, Paolo Datti and Paolo Perrella will keep their management roles. Dea Capital Partecipazioni (39.98%) and IRE Holding (61.02%) sold their stakes. IRE belongs to Bellani (8.63%), Datti (8.63%), Perrella (3.47%), Viris (15.61%), Alessandro Pasquarelli (11.12%), Matteo Cordero di Montezemolo (9.56%), Yamanote (9.56%), and Massimo Cremona (9.37%). AnaCap retained Vitale&Co and Allen & Overy. Yard Reaas received assistance from Mediobanca, Gatti Pavesi Bianchi Ludovici and Fivelex. YARD Reaas has sales of 38.7 million euros, an ebitda of 4.7 million and a net debt of 4.1 million.
