Bistrot, a vehicle of Natissa, will invest 55 million euros for the development of Milan’s Bistolfi 31, a residential unit with 180 apartments over 12000 sqms (see here a previous post by BeBeez). Borio Mangiarotti, a company of which Värde Partners has 20% since 2019, will act as developer and Dils as advisor and commercial partner. Borio Mangiarotti puchased the area in July 2020 from Sammontana. Natissa required the developer to issue surety bonds worth 20 million euro that Società Reale Mutua di Assicurazioni and a pool of insurers subscribed. Beretta Associati made the project of Bistolfi 31 whose construction will start in September 2023.
Invimit, a subsidiary of the Italian Ministry of Economy and Finance (MEF), made a call for expressing interest for Milan-based 388000 sqms real estate asset Piazza D’Armi (see here a previous post by BeBeez). The developers may create a urban park on 75% of the area and buildings on an area of 135000 sqms. The development may crete investments of 500 million euros. The selected bidder will get the majority of the project.
Kryalos, an Italian asset manager, merged its vehicles Primitiv and Tannic with Mazer (see here a previous post by BeBeez). The vehicle now owns 31 logistic assets that Kryalos manges on behalf of Logicor. Kryalos received assistance from Di Tanno Associati, PwC TLS Avvocati e Commercialisti and Studio Milano Notai.
London’s Negentropy Capital Partners closed a real estate securitization for a Milan-based asset that may change its use from office to residential (see here a previous post by BeBeez). Real Estate SPV Project 2202 acquired the asset and issued asset-backed notes for 16.4 million euros that qualified investors will subscribe. Zenith Service (part of Arrow Global) acted as corporate servicer, master servicer, calculation agent, and bondholders representative
