Risanamento strengthens its position in France and in Italy by purchasing major real estate properties for 306 million. In Paris, Risanamento has signed a preliminary agreement to purchase a complete building located from the Unibail Group, for approximately 233 million. In Italy, Risanamento purchased 5 real estate properties intended for commercial/industrial use located in Rome, Milan and Naples for an amount of 73 million.
The transaction in Paris refers to a building located in 50, avenue Montaigne, originally a private dwelling constructed by the architect Tournade in the 19th century. The building was completely restructured in 1993 with the primary objective of preserving the original spirit creating cutting-edge workplaces behind a renewed facade.
The property has an overall surface area of approximately 12,900 m², of which 11,000 m² are intended for tertiary use and 1,900 m² for commercial use. The eighth and ninth floor have offset levels, with an internal stairway and open terrace accessible from each floor, in addition to 215 underground parking spaces arranged on 5 levels. The property is almost totally leased and guarantees a rental of approximately 11.3 million per annum.
The purchased properties in Italy are:
- a real estate property in Rome, in Via Manzoni No. 85/87 with a total surface area of 21,175 m²;
- a real estate property in Milan, in via Grosio, No. 7 with a total surface area of 18,883 m²;
- three real estate properties in Naples, in via De Roberto, No. 81 with an overall surface area of 6,900 m², in via Poggioreale, No. 19, with a surface area of 5,700 m² and located close to the Astroni Agnano Municipality Road, with a surface area of 1,100 m², respectively.
All the Italian properties are currently leased to Fiat Auto, with a current rent of equal to approximately 2.7 million.
The two acquisitions in France and in Italy were made using own means and making recourse to bank borrowings.
With these two transactions, Risanamento continues with its business strategy through real estate property investments in major Italian and international cities, which provide the best growth opportunities for the real estate property market.
At the same time Risanamento balances the real estate property portfolio between development initiatives, which increased significantly after purchasing the former Falck area in Sesto San Giovanni and real estate property intended for income/trading purposes.
Source: Risanamento
