Coima SGR, which now seeks to invest over €2bn in Italian cities, has backed a 22,000sqm urban regeneration project in Milan to raise more than €160m.
The asset manager said the Corso Como project is being financed through the Porta Nuova Bonnet real estate fund, whose investors are the listed real estate company Coima RES and the €500m Italian opportunity fund Coima Opportunity Fund II.
Italian real estate investment trust Coima has expanded its Milan portfolio with the acquisition of Via Valtellina site from a Kennedy Wilson fund.
Kennedy Wilson said its Olimpia Investment Fund has sold Via Valtellina to Coima for €69.5m.
Via Valtellina was acquired by Kennedy Wilson’s Italian closed-end real estate alternative investment fund in January 2016 as part of a portfolio of nine offices fully let to the Italian government. The fund is managed by Savills Investment Management SGR.
IPE Real Estate – 24 July 2018
BNP Paribas Real Estate Investment Management (REIM) has acquired the Viale Stelvio office complex in Italy for around €42m. BNP Paribas REIM said it bought the property on behalf of its real estate fund Fundamenta managed by its Italy arm. Located in Milan, the building, which has around 15,000sqm of total office area, is fully let. The Fundamenta Real Estate Fund is the separate account for BNP Paribas Cardif for their core investments in Italy.
IPE Real Assets – 04 May 2018
TH Real Estate has acquired the Via Darwin complex located in Milan, Italy, on behalf of their European Cities Fund for c.€100 million, through the subscription of quotas in an Italian real estate fund managed by Antirion SGR SpA, from Brioschi Sviluppo Immobiliare S.p.A.
A new infrastructure debt investment platform controlled by Generali will be seeded with at least €1bn from the Italian insurer.
Generali will hold a controlling stake in Generali Global Infrastructure (GGI), a joint venture with infrastructure financiers Philippe Benaroya, Alban de La Selle and Gilles Lengaigne.
GGI will form the first part of the Generali’s new multi-boutique asset management strategy. It will be managed by a newly-founded entity known as Generali Investment Partners.
IPE Real Estate – 20 March 2018
CBRE Global Investors has completed the disposal strategy for its Southern European retail fund following the sale of a shopping centre in Italy.
CBRE Retail Property Partnership Southern Europe (RPPSE) has sold Galleria Commerciale Siracusa to CDS Holding for an undisclosed sum.
Galleria Commerciale owns the shopping centre known as I Papiri.
IPE Real Estate – 16 March 2018
Real estate fund manager Hines has teamed up with Blue Noble to develop a 600-bed student accommodation facility in Milan.
The investment is part of a joint venture between Hines and Blue Noble, an independent real estate investment group, and will be Hines’ first in a series of investments in student housing in the main Italian university cities, with Rome, Florence and Venice targeted alongside Milan.
IPE Real Estate – 26 February 2018
Allianz Real Estate has announced the appointment of Donato Saponara as new head of Italy.
Based in Milan, Saponara is responsible for a €3 billion portfolio owned by Allianz investors and composed of core and value add assets (office, retail and hospitality).
Donato Saponara is sitting in Senior Management Committees of Allianz Real Estate for the West Europe Region, which has included Italy since September 2017.
TH Real Estate has acquired a logistics centre in Monticelli d’Ongina, Italy, on behalf of one of its logistics strategies. The asset comprises a total area of c.248,710 sq ft (c.23,100 sq m) and was sold by Cerrius Srl, for an undisclosed sum.
The logistics centre was completed in 2011 by Cerrius Srl and was built to modern standards and specifications. The c.223,070 sq ft (c.20,700 sq m) of warehouse space and c.25,620 sq ft (c.2,380 sq m) of office space are split over three floors. The asset is fully let to SDA Poste Italiane.
Press release – 08 February 2018
COIMA SGR has completed the capital raising for the COIMA Opportunity Fund II (“COF II”), reaching the expected target of €500 million with the already agreed additions of the co-investment and the option to increase the subscriptions, bringing the total amount of capital raised to over €650m. The investment capacity of the fund, including the financial leverage, is over €1.5bn.