Cedar Capital Partners attracted 400 million euros from Ares Management Real Estate Secondaries for the recapitalization for a portfolio of five European lifestyle hotels (see here a previous post by BeBeez). Hoxton Rome, Hoxton Lloyd Amsterdam and Mama Shelter Prague (566 rooms in total) are already operative while two further hotels will open in 2025. Ramsey Mankarious is the ceo and founder of Cedar Capital Partners which received assistance from CBRE Investment Banking and Deutsche Bank. Michelle Creed is the Ares Management co-head of real estate secondaries. Eoin Bastible is a managing director of CBRE Investment Banking.
Paris-listed group Kering fetched 350 million euros out of the sale of Tuscany and Liguria based The Mall Luxury Outlets to US Simon Property Group (see here a previous post by BeBeez). Kering aims to raise 4 billion from the sale of non-core real estate assets.
Italian big distribution group Finiper Canova, the owner of supermarket chains Iper, Unes and Il Viaggiator Goloso, refinanced for 180 million euros the liabilities of its subsidiary Milan-area shopping mall Centro di Arese (see here a previous post by BeBeez). Finiper signed the deal with Intesa Sanpaolo, Banco BPM, BNL BNP Paribas, BPER, and Banca Montepaschi which received assistance from Delfino e Associati Willkie Farr & Gallagher. Greenberg Traurig Santa Maria Studio Legale Associato advised TEA, the owner of Centro di Arese. In the mid-term, Finiper Canova aims to invest a total of 300 million (including a 40 million capex line) in the requalification of Arese area.
Italian Embassy paid 45 million GBPs (in the region of 54 million euros) for acquiring London’s at 4, Buckingam Gate from Sidra Capital, a Saudi Arabia’s Shari’ah-compliant asset manager, press reports said (see here a previous post by BeBeez). As BeBeez found out, a deliberation of Westminster Municipality says that he building will host the Italian Embassy, the Italian Cultural Institute and the Agency for Italian Commerce. Sir James Pennethorne projected the 3000 sqms historical building in 1850. Sidra Capital acquired the asset in October 2021 from an undisclosed French leisure group that paid 30 million GBPs for purchasing in 2018.
Fondo Cristoforo, a vehichle in which Goldman Sachs invested and that Prelios manages, sold to Arkea REIM two 50 million euros worth buildings in Milan’s Via Crescenzago. (see here a previous post by BeBeez). The buyer received the advisory support of Sienna Investment Managers (part of Groupe Brussels Lambert).
Kryalos and Logicor announced the sale of two parcels of land in Pomezia (Rome area) with a total surface of 200000 sqms (see here a previous post by BeBeez). Mazer, a closed-end fund that Kryalos manages and that Logicor subscribed, acquired the assets. Logicor and Kryalos received assistance from LXSA, Bertacco Recla, The BlossomA venue, EY, and REEAS. One of the parcel is of 52000 sqms. The buyer will use it for developing a 14000 sqms logistic asset. On the other 150000 sqms land, the buyer will build a logistic warehouse. Gianluca Vairani is the Kryalos head of ESG.
Arsenale Real Estate United States II (Areus II), a real estate investment firm that belongs to the Stevanato Family that targets US strategic assets, acquired a 58000 sqms campus in Los Angeles for 14.85 million US Dollars through an off-market transaction for which Montana Avenue Capital Partners provided support (see here a previous post by BeBeez). The price incorporates a 50% discount on the basis cost for the previous owner, and a 25% discount on the financing. Marco Stevanato is the ceo of his family office.
Generali Real Estate acquired Barcelona’s 13000 sqms Logistic Park Montornés from Scannell Properties España which started to build the asset in March 2023 and rented it to Grupo Transaher in September 2024 (see here a previous post by BeBeez). Generali received assistance from DLA, Dokei RE, Ramboll, and Knight Frank. Scannell retained Dentons. The asset has strong ESG features and has EPC Grade A and BREEAM New Construction Excellent certifications. Pierre-David Baylac is Generali Real Estate head of Logistics. Javier Inchauspe is the ceo of Scannell Properties in Spain and Portugal.
Starwood Capital Group, an investor with with 115 billion US Dollars resources, acquired four logistic assets with a 315000 sqms surface from Italian developer Techbau and Castello, while Dils acted as deal advisor (see here a previous post by BeBeez). The assets are based in the Northern Italian regions of Lombardy, Veneto and Piedmont and have the Leed Platinum and Leed Gold certification. A 3PL (third-party logistic) prime tenant signed a long-term lease for one warehouse.
