Italy
Portugal
Allianz Real Estate finalized the acquisition of a prime asset located in Via dell’Arte 25 in Rome, sold for approximately € 200 million by a real estate fund managed by DeA Capital Real Estate SGR. The property, approximately 30,000 sqm and almost fully let, has been completely renovated and is LEED Platinum certified.
As a direct consequence of the lockdown period, transactions during the first half of the current year have seen a generalized decline, albeit with varying impacts on the different asset classes and to date we record a commercial investment volume of about €4 billion in total.
Despite the market slowing due to the impact of COVID-19, the data relating to the investment deals closed by the GVA Redilco Capital Markets team is particularly positive.
With the Via dell’Arte deal, one of the most significant and specifically one of the largest in the Rome marketplace, GVA Redilco has closed transactions for a total value of approximately € 1.2 bn to date, consolidating its leadership in Italy’s capital markets, with a particular focus, this year, on core investments.
Among the main deals, those already recently communicated include:
- Via Mazzini 9/11, Milano (Office)
- Via Cernaia 8-10, Milano (Office)
- Via Dante 16, Milano (mixed Retail/Office)
- Polo di Vigasio, Verona (Logistics)
- Via Armorari 4, Milano (Office)
- Via Orefici 13, Milano (Office)
- Portafoglio Mediobanca Sgr, Nord Italia (Logistics)
Preparing to face new and important competitive challenges in a context conditioned by uncertainty regarding future phases of the current health emergency, GVA Redilco’s outlook for the next few months is cautious, with the expectation of greater dynamism in Q4, although the record volumes of 2019 are unlikely to be reached.
The 2019 financial results of GVA Redilco & Sigest approved during the first half of 2020 were also positive, recording an exceptional growth in revenues which reached circa € 30 million.
Giuseppe Amitrano, CEO of GVA Redilco and Sigest commented these results, “Growth in recent years pushes us to be even more determined to reach new goals. The coming months will be important, crucial even; we know that the situation is still uncertain, and that it will not be easy to continue achieving such extraordinary results. I do think, however, that often it is in the more difficult moments that we have to reinvent ourselves and react. At GVA Redilco & Sigest this is our mission, that we want to pursue with commitment, innovation, investments in both people and technology and, above all, vision.”
