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Retail & Leisure Fund, a platform that Pillarstone and Promos created for underperforming retail buildings whose Gross Book Value (GBV) amounts to 400 million euros,is carrying on the 20 million worth relaunch and repositioning for 25000 sqms Complesso Polifunzionale San Donato (Florence) and 22000 sqms Centro Commerciale Continente di Mapello (Bergamo) (see here a previous post by BeBeez). Promos will manage the assets and act as property and facility management. Filippo Maffioli is the ceo of Promos. Gaudenzio Bonaldo Gregori is the chairman and ceo of Pillarstone.
Milan-listed NPEs investor Banca Ifis, a firm of which the Furstenberg Fassio Family is the main shareholder, said it accepted the 85 million euros bid that Banca Sella tabled for a 50% of Italian fintech Hype on the ground of an equity value of 170 million (see here a previous post by BeBeez). In September 2020, illimity bank (reportedly merging with Ifis) acquired 50% of Hype from Fabrick, a subsidiary of Sella. Ernesto Furstenberg Fassio is the chairman of Banca Ifis.
Milan-listed real estate developer and alternative asset manager Borgosesia launched two securitizations and acquired Pisa’s Residence San Rossore (see here a previous post by BeBeez). Janus set a fundraising target of up to 20 million euros and will be part of a Basket Loans Program. Borgosesia will acquire a minority of the abs notes for up to one million. Euclide aims to raise up to 150 million and will acquire from Borgosesia the notes of a special purpose vehicle in consideration for the transfer of properties currently in the company’s portfolio. Euclide will issue Milan-listed senior notes (floor 6%, cap 400 bps over 3MEuribor) and Borgosesia will purchase the mezzanine (7%, 500 bps over 3MEuribor) and junior items (8%, 600 basis point bps over 3MEuribor). Borgosesia could also issue a Milan-listed Collateralised Loan Obligation (CLO). The company appointed Federica Mor as chairwoman of the surveillance board of which are also part Vittore d’Acquarone and Werther Montanari. Residence San Rossore’s enterprise value amounts to 7 million. Borgosesia paid 6 million of the total amount through the purchase of a mortgage liability.
Investfood, a company that GianMaria Brusini heads, financed the acquisition of Macha through the issuance of a 60-months minibond of three million euros that attracted a 2 million investment of Banca Valsabbina (see here a previous post by BeBeez). Tunde Pecsvari and Antonio Scognamiglio will keep their roles of co-ceo for Macha which retained ADVANT Nctm, Vitale and PedersoliGattai. BDO, Morpurgo & Associati, Studio Prini, Studio Corti Fumagalli, and BTLAWS assisted Investfood. The target previously belonged to Pecsvari (27.67%), Scognamilio (27.67%), Griffo Family, Cutolo Family, and the Rapisarda Family. Macha has sales in the region of 18 million, an ebitda of 2.5 million, net debts of 3 million, and losses in the region of 0.151 million. Hermes Bianchetti is the deputy coo of Banca Valsabbina. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Banca Valsabbina and its investments. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
