Pillarstone, an investor in distressed assets, launched Retail & Leasure (R&L), a vehicle for investing in the hotellerie and shopping malls sector that Irish IQ-EQ Fund Management will handle (see here a previous post by BeBeez). R&L aims to buy hotels’ NPEs from lenders for relaunching the businesses. R&L already acquired 205 million euros worth NPEs of shopping centres in Italy that have an aggregate surface of 200000 sqms. However, Gaudenzio Bonaldo Gregori, a managing director of Pillarstone, said to BeBeez that the fund may manage assets for 500 million or more in 12 to 18 months. Filippo Maffioli is the ceo of Promos that will manage the shopping centres.
Coima acquired three Rome-based luxury buildings Palazzo Verospi, Galleria Sciarra and Palazzo Monte worth a total of above 200 million euros (see here a previous post by BeBeez). Such trophy assets are part of Sapphire‘s portfolio. Coima will manage this vehicle after having purchased the stakes of Zurich and Morgan Stanley. Coima aims to improve the energy efficiency of the building with the resources of a sustainability-linked loan that Credit Agricole, BPER and ING provided. Gabriele Bonfiglioli is the chief investment officer of Coima.
Italian Industrial company Gruppo Metra, part of KPS Capital Partners since 2021, carried on a real estate sale & lease back deal worth 80 million euros (see here a previous post by BeBeez). The company sold four assets (three in Italy and one in Canada) with an aggregate surface of 103000 sqms to WP Carey, a Nasdaq-listed net lease real estate investor. In 20222, Metra signed another sale & lease back deal with WP Carey for a Canadian asset.
On 9 May, Thursday, the shareholder of real estate investor Villa d’Este met for the approval of 2023 financials (see here a previous post by BeBeez). Earlier in April, Villa D’Este acquired Hotel Miralago from the Ambrosini Family. The buyer retained Greenberg Traurig Santa Maria, PwC TLS Avvocati e Commercialisti, De Luca & Partners for the purchase of Miralago. The Ambrosini Family hired Studio Rag. Antonio Capua and Studio Avv. Massimo Moscheni. Earlier in February, Villa d’Este acquired Harry’s Bar from Francesco Ugoni, Giuseppe Mantero and Riccardo Marazzi. Villa d’Este has a 78,5 milioni di euro di ricavi netti (di cui 56,8 milioni dal solo Grand Hotel Villa d’Este), un margine operativo lordo di 31,3 milioni e un utile netto di 19,1 milioni, a fronte di un debito finanziario netto di 31 milion
Immobiliare Stampa, a real estate investor that Bain Capital Credit controls since the end of 2019, said it sold to an Italian family office a building based in Milan’s Via Torino-Largo Carrobbio (see here a previous post by BeBeez). Aquileia Capital Services (ACS), a servicer for real estate – backed credit that belongs to Bain Capital Credit acted as asset manager for Immobiliare Stampa. Rustioni & Partners acted as broker. VDA Studio Legale assisted Immobiliare Stampa.
