Nyse-listed REIT W. P. Carey sold eight industrial assets of 118000 sqms to Siderforgerossi, an Italian steel company (see here a previous post by BeBeez). KPS Capital Partners acquired Siderforgerossi in 2021. The 25-years triple net lease back contract includes five assets in the North of Italy and three in the Spanish Basque Country. The rent will increase with the CPI. Siderforgerossi has sales of 175.3 million euros, an ebitda of 11.3 million and a net financial debt of 44.7 million.
Redo, a real estate asset manager that aims to develop sustainable projects, acquired the area of Macello di Milano for a reported value of 90 million euros (see here a previous post by BeBeez). Redo carried on the transaction through Fondo Immobiliare di Lombardia – Comparto Uno, a social housing vehicle that Fondazione Cariplo launched with Regione Lombardia. The fund has equity of 560 million (70% from Fia of Cdp) and credit lines of 400 million from Intesa Sanpaolo. The Aria di Redo project will develop over a 15 hectars area where IED – Istituto Europeo di Design will build its international campus. The buildings will also host 1200 families (60000 sqms social housing – 60% subsidized rent and 40% subsidized sale), a students house for 600 persons and free market assets (less than 7000 sqms). Works will start in 2024 and may end in in 2026-2027. Fabio Carlozzo is the ceo of Redo.
Costim, a real estate and construction company that belongs to the Bosatelli Family and Francesco Percassi, acquired 20% of Verde21, a renewable energy company that owns tha brand Dynamo (see here a previous post by BeBeez). The enterprise value of Verde21, a B-corp, is of 15 million euros. The target has sales of 0.26 million, an ebitda of minus 0.635 million and net debts of 0.7 million.
