Ex Trotto, the former hippodrome of Milan attracted 50 million euros from CDP and 15 million from Banca Finint that poured such resources in Fondo Tematico Piani Urbani Integrati (Fondo PUI), a vehicle for housing investments that the Italian Ministry of Internal Affairs and the European Investment Bank (EIB) launched (see here a previous post by BeBeez). Such a transaction is part of an urban regeneration project that Hines launched in September 2023 for a130000 sqms area in Milan. Cdp and Finint will acquire part of Ex Trotto through the vehicle AshITA for developing senior housing projects with a 250 million investment. Giancarlo Scotti is the ceo of CDP Real asset
Gruppo Rinascente will invest in Milan-based Odeon Cinema (Duomo area), an asset that Kryalos – Aedison (a fund that Apollo Global Management handles) acquired in 2018 from Fininvest Real Estate for 70 – 80 million euros (see here a previous post by BeBeez). Rinascente said it will develop Rinascente Odeon Beauty Hall, a hub of above 3000 sqms. Rinascente and Kryalos aims to invest more than 40 million for a 700 sqms area for building’s the food sector that may open in May 2027. Sources said to BeBeez that Rinascente signed a 20 years lease agreement for the areas where it will develop such projects, while few spaces are still available. Progetto CMR will manage the building renovation.
Sources said to BeBeez that Gran Giardinetti, a company of Leonardo Bongiorno and Daniela Zuccoli, and other private co-investors acquired from illimity a 20 million euros worth real estate asset in Rome for converting it in an esg-compliant Students House and a co-living space (see here a previous post by BeBeez). Unicredit financed the transaction and provided the buyers with capex and VAT facilities. Allegria Developments, FairWise Law, and Studio SPT assisted the buyers. Laisa advised the vendors while Unicredit retained Studio Legale Gitti and Partners. ARECneprix carried on the sale of the asset. The buyers will receive the support of Habyt for developing 216 en-suite studios and micro-flats with common areas and make them available in 18 months to short and long stay tenants.
BPER Banca retained CBRE for selling the former Geona-based datacenter of Banca Carige to an undisclosed non TMT and carrier-neutral industry player (see here a previous post by BeBeez). CBRE scouted for the firms and business models that operate in the segments of Edge DC with a focus on the development of Cable Landing Stations (CLS). The five-floors building is of 11000 sqms. Daniele Martignetti is BPER head of Real Estate.
YARD REASS, a real estate advisory firm that belongs to AnaCap , acquired Italian competitor Avalon Real Estate (see here a previous post by BeBeez). Avalon’s previous owners Jonathan Sancinelli, Federico Chiavazza, Giordano Graff, and Paolo Ranieri will keep their executive roles and rinvest for a minority. YARD REAAS retaine Target, Morpurgo e Associati, FIVERS, BDO Italia, and Banco BPM. Avalon received assistance from A&O Shearman, Mascherpa e Associati and KPMG Corporate Finance. Avalon assists investors in NPLs and UTPs. The firm has revenues of 5.7 million euros, an ebitda of 1.1 million and net cash of 0.985 million. Emanuele Bellani (ceo), Paolo Datti (Deputy Chairman, Head of M&A) and Paolo Perrella head YARD REAAS which has a turnover of 60 million and aims to grow through further acquisitions. Alberto Sainaghi is a managing director of AnaCap and said that YARD REAAS also aims to carry on international M&A deals.
