Cushman & Wakefield successfully finalizes the sale of a prime asset in the heart of Rome
Raffaella Pinto • 08/07/2020
A new foreign institutional player enters the Italian market: Tander Inversiones Socimi, S.A., a Spanish listed real estate investment company, already owner of a portfolio of high street retail properties located in Spain and Portugal, of a value of 120 million euros. An investor specialized in the high street sector with a long term investment strategy, who has chosen Rome for its first investment in Italy. This confirms that, despite the difficulties, Rome continues to be the selected target of certain investors, characterized by the unparalleled historical and cultural heritage, where luxury retailers and global brands coexist with the emblems of the past.
Despite the Covid-19 pandemic and the consequent crisis in the retail sector, due to the forced closure of all stores for almost three months, the deal was not subject to repricing compared to what was foreseen in the initial agreement.
"Completing this deal shortly after the lockdown and without repricing is an encouraging sign for the market, especially considering that retail is one of the asset classes most affected by the crisis" comments Eleonora Galloni, Head of the Capital Markets High Street Retail Department of Cushman & Wakefield Italy. "The transaction demonstrates that interest in our prime cities, where the fundamentals are solid, remains high also on behalf of international investors."
As reported in the annual report Main Streets Across the World prepared by Cushman & Wakefield, Rome is in fact one of the main prime markets in the world and in fourth place in the ranking of the main European high streets by rent
The Italian Hospitality team of Cushman & Wakefield, acted as advisor for Reale Immobili S.p.A. for the search and selection of a new operator for the management of The Carlton Hotel Milano, 5-star hotel L, located in the heart of Milan's Fashion District, in Via della Spiga, the most famous shopping street in the city.
Raffaella Pinto • 01/07/2020
Cushman & Wakefield’s Italian Capital Market Team has successfully advised Deka Immobilien GmbH in the sourcing and acquisition of Via Colombo 80, an outstanding office building located in a dynamic area in Rome’s Greater EUR submarket.
Sven Ole Sommer • 18/11/2020
In Q3 2020, approximately € 2 billion was invested in Italian real estate, bringing the volume of the first 9 months to € 6 billion according to preliminary data from Cushman & Wakefield. The volume of the first 9 months recorded a contraction of 20% compared to the same period in 2019, a record year for Italian real estate, but it is in line with 2018 investment volumes.