News Archivi - Merope Asset Management

M&G Real Estate Invests in Prime Italian High Street Retail

paolo — Tue, 17 Mar 2015 14:36:48 +0000

LONDON – 17th March, 2015

M&G Real Estate Invests in Prime Italian High Street Retail.

M&G Real Estate, the real estate fund management arm of M&G Investments, has acquired the corporate entity holding a prime high street retail asset in central Milan from. The asset will become part of M&G Real Estate’s core European property strategy, managed by David Jackson and Simon Ellis.

The 3,745 sqm asset, which is currently under development, is situated at the junction of Via Torino and Via Della Palla, one of the prime commercial locations in Milan’s city centre and home to a mix of national and international retailers. Expected to be open for business in Spring 2015, it will become one of the largest and prominent retail units in central Milan. Teddy SpA, a leading European fashion retailer, has signed two leases and will use the property to house its new headquarters, from which it will operate flagship stores under its Terranova and Calliope brands.

Commenting on the acquisition, David Jackson says:

“We are very pleased to have acquired this high quality asset. The tenant’s strong credit rating and the long lease provide a good defensive income and the excellent retail location aligns with our strategy of increasing our exposure to the retail sector and further diversifying our country exposure.”

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Pietro Croce adds:

“This deal shows how prime and high quality developments in Italy can attract international players both on the leasing side and the investment side – we are pleased to feel renewed interest in our market. VOLARE the SPV dedicated to this development was structured as a Club Deal of 17 prime Italian family offices. The disposal perfectly matches our strategy of investing in high quality Italian assets that meet the expectations of international institutional investors such as M&G Real Estate.”

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L'articolo M&G Real Estate Invests in Prime Italian High Street Retail proviene da Merope Asset Management.

Opening ceremony of the Via Torino building

paolo — Fri, 22 May 2015 13:37:37 +0000

Milan – 22nd May, 2015

Opening ceremony of the Via Torino building.

This evening at 6 PM will take place the opening ceremony of the new development on Via Torino, Via della Palla and Via Lupetta in Milan. The building was developed on a site abandoned since bombing occurred in World War II.

The new building has a total GLA of approx. 6.000sqm + 3 underground parking floors and will host retail, offices, residential and parking spaces.

Being Via Torino one of the Milan city center main Retail High streets, the Retail surface has a prominent role in the development. The 3.700sqm Retail facing Via Torino are considered the major Retail High Street new development that ever occurred in town.

The entire retail space was pre-let to the Teddy Group, a leading Italian and International fashion player. Teddy will trade in the building with 2 flagship stores of its 2 main brands, Terranova and Calliope. The let Retail space was acquired in March by M&G Real Estate. The transaction yield is considered a new benchmark for the Milan retail market.

The development has a market value exceeding Eur 100.000.000,00.

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L'articolo Opening ceremony of the Via Torino building proviene da Merope Asset Management.

Merope Asset Management acquired Via della Spiga 5

paolo — Wed, 20 Jul 2016 13:38:08 +0000

MILAN – July 20th, 2016

MEROPE ASSET MANAGAMENT, on behalf of the Special Purpose Vehicle MANTIKA, acquired a Property located in Via della Spiga 5.

The property was sold by the PIO ALBERGO TRIVULZIO, the Milan municipality company for healthcare.

MEROPE as an Investor and Asset Manager of MANTIKA completed the Due Diligence on the asset, raised the equity and loan and executed the acquisition at Eur 37.000.000,00.

Via della Spiga is considered one of the worlds famous retail high streets. Together with Via Montenapoleone and Via Sant’Andrea, it represents the heart of the so called Quadrilatero della Moda in Milan. One of the major shopping destinations worldwide.

The Via della Spiga investment is perfectly matching with MEROPE’s investment focus. High Street Retail with value add potential.

The SPV capital was open by MEROPE in May and within 6 weeks 21 investors joined MEROPE in this new Club Deal. The 21 investors participating together with MEROPE in the deal are Italian and international family offices.

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L'articolo Merope Asset Management acquired Via della Spiga 5 proviene da Merope Asset Management.

The Project LA CORTE in Prague is completed

paolo — Thu, 10 Nov 2016 12:12:26 +0000

PRAGUE – November 10th, 2016

The Project LA CORTE in Prague is completed and the office and residential units handed over to the buyers.

LA CORTE is a high end residential re-development of four buildings in Prague 1. Following years of the refurbishment and reconstruction the project was completed.

The idea of bringing an “Italian Touch” in the heart of Prague was a great success. The apartments and offices have been designed by Italian architects of Studio Pession. The apartments were furnished by the Italian “archistar” Giulio Cappellini through and agreement between the special purpose vehicle PETRSKA and the POLTRONA FRAU group.

The development was executed by an SPV and its capital was provided by a large number of Investors. Investors in LA CORTE project were Italian and International family offices.

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L'articolo The Project LA CORTE in Prague is completed proviene da Merope Asset Management.

MEROPE ASSET MANAGAMENT, sold the majority stake of the SPV that owns the asset located in Via della Spiga 5.

paolo — Tue, 24 Oct 2017 09:12:47 +0000

MILAN, 24th of October 2017

MEROPE ASSET MANAGAMENT, sold the majority stake of the SPV that owns the asset located in Via della Spiga 5.

On behalf of the Club Deal that invested into the vehicle, MEROPE sold a 75% share to a single private investor already owning the remaining 25% stake in the SPV.

L'articolo MEROPE ASSET MANAGAMENT, sold the majority stake of the SPV that owns the asset located in Via della Spiga 5. proviene da Merope Asset Management.

Merope Asset Management acquired “Palazzo Bernasconi”

paolo — Fri, 14 Sep 2018 16:16:32 +0000

MILAN, 13th of September 2018

MEROPE ASSET MANAGEMENT, on behalf of the Special Purpose Vehicle “ATLANTE”, acquired a Real Estate asset called “Palazzo Bernasconi” located at the corner between Corso Venezia and Via Palestro in Milan.

The property has mixed Retail and Office use and a surface of around 4.000 sqm. The building is considered one of the major Trophy Assets in town.

The deal occurred through a double acquisition. The first portion of the asset was acquired from the NPL platform of BANCO BPM, while the second portion was acquired from CAMPAGNA & C. SPA. For MEROPE ASSET MANAGEMENT this investment is in line with its strategy of targeting high end properties in Milan and in Italy.

Commenting on the acquisition, Pietro Croce (MEROPE ASSET MANAGEMENT’s CEO) says: we are very pleased to have worked with BANCO BPM and CAMPAGNA & C. SPA to acquire this asset. Since we signed the preliminary agreement last December we worked for almost 10 months to reach the Closing and the final result. The transaction was extremely complex and was possible thanks to the constant efforts of our team and our advisors.

Palazzo Bernasconi represents a Landmark in Milan. Together with our investors we are pleased to have it within our portfolio and proud for keeping such an important asset under Italian management.

The exposure to the Retail and Office sectors and the prime location and standing of this asset, are perfectly matching with our investment strategy and with the targets of our investors”.

MEROPE was advised by Dentons on the legal side and by Studio Associato Giancaspero & Carlucci on the Tax and Corporate side.

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MILAN, 13th of September 2018

MEROPE ASSET MANAGEMENT, on behalf of the Special Purpose Vehicle “ATLANTE”, acquired a Real Estate asset called “Palazzo Bernasconi” located at the corner between Corso Venezia and Via Palestro in Milan.

The property has mixed Retail and Office use and a surface of around 4.000 sqm. The building is considered one of the major Trophy Assets in town.

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Commenting on the acquisition, Pietro Croce (MEROPE ASSET MANAGEMENT’s CEO) says: we are very pleased to have worked with BANCO BPM and CAMPAGNA & C. SPA to acquire this asset. Since we signed the preliminary agreement last December we worked for almost 10 months to reach the Closing and the final result.
The transaction was extremely complex and was possible thanks to the constant efforts of our team and our advisors.

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The exposure to the Retail and Office sectors and the prime location and standing of this asset, are perfectly matching with our investment strategy and with the targets of our investors”.

MEROPE was advised by Dentons on the legal side and by Studio Associato Giancaspero & Carlucci on the Tax and Corporate side.

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L'articolo Merope Asset Management acquired “Palazzo Bernasconi” proviene da Merope Asset Management.

MEROPE Asset Management Rafforza il suo team d’investimento con l’ingresso del Principal Lorenzo Niccolini

paolo — Thu, 11 Apr 2019 15:34:19 +0000

Milano, 10 Aprile 2019

Merope Asset Management, società di investimento e sviluppo immobiliare fondata e guidata da Pietro Croce, annuncia l’ingresso di Lorenzo Niccolini quale responsabile del team di investimento, con la qualifica Principal – Investment & Asset Management.

L’attività di Niccolini si concentrerà sulla ricerca di opportunità di investimento strategiche e di successiva valorizzazione e sulla supervisione del portafoglio immobiliare di Merope, con un focus specifico sull’asset management.

L'articolo MEROPE Asset Management Rafforza il suo team d’investimento con l’ingresso del Principal Lorenzo Niccolini proviene da Merope Asset Management.

Merope Asset Management signed with Banca IFIS a Preliminary Purchase Agreement for an Iconic Building located in Corso Venezia – Milan

paolo — Fri, 29 Nov 2019 16:00:59 +0000

MILAN, 29th of November 2019

Merope Asset Management, a real estate investment and development company founded and managed by the CEO Pietro Croce, has won a competitive procedure, managed by the advisor Mediobanca, for an asset located in Corso Venezia 56 in Milan, one of the most iconic of the city.

The company signed today the preliminary purchase&sale agreement with Banca Ifis for a total value of euros 50,5 million.

L'articolo Merope Asset Management signed with Banca IFIS a Preliminary Purchase Agreement for an Iconic Building located in Corso Venezia – Milan proviene da Merope Asset Management.

Via della Spiga 5 has been fully let by RALPH LAUREN.

paolo — Tue, 17 Dec 2019 11:22:54 +0000

MILAN, 17th of Dicembre 2019

Via della Spiga 5 was acquired by MEROPE ASSET MANAGEMENT in July 2016. During October 2017, MEROPE sold the majority stake of the vehicle that owns the Asset.

L'articolo Via della Spiga 5 has been fully let by RALPH LAUREN. proviene da Merope Asset Management.

Merope Asset Management acquired an iconic building in the heart of Milan – via Manzoni 9

paolo — Thu, 27 Feb 2020 09:00:44 +0000

Milan, 27th of February 2020

Merope Asset Management acquired a historical building located in the heart of Milan, in Via Manzoni 9. The investment was split under three separate acquisitions from three independent vendors. With this multiple-acquisition Merope finally reunified the asset.

The property was purchased in three different tranches that occurred between the end of December and today. The total amount of the transaction is right above € 30 million. The main portion of the asset was bought by Polis Fondi SGR, while the two minor portions were bought from two private investors.

L'articolo Merope Asset Management acquired an iconic building in the heart of Milan – via Manzoni 9 proviene da Merope Asset Management.