Ortega Pontegadea Inversiones, the investment arm of Amancio Ortega‘s family office Pontegadea Inversiones, acquired 327 million euros worth logistic assets based in Milan and Rome without providing any further details (see here a previous post by BeBeez). Ortega owns 59.29% of Inditex to whom belongs the Spanish fashion brand Zara. Ortega invests in real estate deals part of the dividends that Inditex pays that this year amount to 2.8 billion.
Italian crowdfunding platform for real estate Concrete Investing raised 3 million euros for the refurbishing of Milan’s five floors residential building Adda 11 in Porta Nuova – Piazza Gae Aulenti area (see here a previous post by BeBeez). The fundraising target amounts to 4.5 million with an expected Roi of 24.7%, an annual IRR of 11% and a 27 months holding period. The refurbishing will start in early 2025 and last 9 months. Lorenzo Pedotti is the ceo of Concrete Investing. The developers are also negotiating a mortgage of 8.3 million.
DeA Capital Real Estate and Palm Capital (sponsor) launched Palm Partners Italy I (PPI), a fund that a pool of international investors subscribed (see here a previous post by BeBeez). PPI will target Italian logistic assets whether they are already existing or in their development stage. The fund also said it acquire a land in Novara (Piedmont Region) where it will build a 64000 sqms asset for which a tennant already signed a pre-let agreement. Reda Khatim is a managing partner of Palm Capital. Emanuele Caniggia is the ceo of DeA Capital Real Estate.
Rocco Forte Hotels (RFH) opened Milan’s Rocco Forte House, a format of high-end flats, in partnership with Generali Real Estate (see here a previous post by BeBeez). In 2023, RFH sold a 49% stake to Public Investment Fund (PIF). Rocco Forte Houes is Milan’s iconic streets Via Manzoni – Via della Spiga and has 11 apartments of 72 – 198 sqms that cost 1,000 – 2000 euros per night, sources said to BeBeez. The building belongs to Fondo Effepi Real Estate, a vehicle of Unicredit Pension Fund that Generali Real Estate manages. Paolo Moschino ltd. ASTI Architetti and Perelli Consulting looked after the asset’s design, refurbishing and project management while Cushman & Wakefield acted as exclusive agent.
Deloitte Italia‘s Milan headquarter, an asset that belongs to Allianz and that PIMCO Prime Real Estate made a Near Zero Energy Building (NZEB), will open in early 2025 (see here a previous post by BeBeez). In 1958, Italian designers Gio Ponti, Fornaroli and Portaluppi projected the 48000 sqms building with 1000 sqms of green areas. Skidmore, Owings and Merrill (SOM) carried on the requalification. Deloitte appointed DEGW, part of Gruppo Lombardini22, for the interior design projects.
