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Luigi Luzzatti, the head company of 19 Italian local co-operative banks, carried on a 333 million euros worth securitization through Luzzatti POP NPLs 2025 which purchased secured by first mortgages and partly unsecured NPEs from Banca Popolare di Puglia e Basilicata, Banca di Piacenza, Cassa di Risparmio di Volterra and Ifis Npl Investing (see here a previous post by BeBeez). The spv issued a senior tranche of assed backed securities (abs) of 35 million (BBB+ from ARC Rating and BBB from DBRS Morningstar), 6 million mezzanine notes and junior items of one million. Intesa Sanpaolo and Gianni & Origoni assisted Luzzatti for which Luigi Avogadro acts as ceo and Massimo Famularo as NPE team co-ordinator.
Sources said to BeBeez that Banco BPM fetched above 6.5 million euros out of the sale of Milan’s building Ex Ca’ Bianca (Via Lodovico Il Moro, in the Naviglio Grande area) to Lofthouse Real Estate, a firm that Massimiliano Rizzo heads, that announced on 19 December, Friday (see here a previous post by BeBeez). Banco BPM retained Molinari. In 2020, Dino Scaggiante acquired the building for creating the luxury hotel Excel Naviglio which bankrupted in 2023.
By 2029, Warsaw-listed Kruk, an investor in NPEs, aims to double the aum and clients of Kruk Italian, Tomasz Kurr, the ceo of the subsidiary, said to BeBeez (see here a previous post by BeBeez). In June 2025, the firm’s Italian aum amounted to 658.5 million euros, 26% of the total book value of Kruk.
