Merope Asset Management, on behalf of "Elettra", concluded the purchase from an important international fund of 10 buildings in Rome called "The Villas of the Sallustiano district”. The operation was supported by Intesa Sanpaolo e Banco BPM with a loan of approximately 100 million euro, divided equally between the two banks.
The Villini are located between via Sallustiana, via Boncompagni, via Piemonte and via Quintino Sella, a few steps away from the most important embassies of the capital and via Vittorio Veneto, the cradle of the Italian Dolce Vita. In the past, belonging to some of the most important Roman families, the buildings housed the headquarters of the Medium credit need Unicredit, to then pass under the ownership of an international fund. Inside a centuries-old park, the buildings extend over an area of over 17 square meters and together represent one of the main Trophy Assets in the capital.
The acquisition represents one of the largest single-deals in the Roman real estate market, for a value of about 100 million euro. The Italian real estate investment and development company is planning investments of around 80 million euros in buildings. Aiming for the highest standards of energy efficiency, the investment will be aimed at the transformation and restoration of the assets in a sustainable perspective, with the aim of restoring one of the most historic corners of Rome to its original splendour.
“We are very pleased to have concluded this operation after more than a year of dialogue with the selling fund – he declared Peter Cross, founder and CEO of Merope Asset Management -. The negotiation and closing of the operation required a lot of energy and resources from our team. We are witnessing a restart phase of the city of Rome and we are proud to be able to give our contribution in such a decisive moment in its history. The Villini del Rione Sallustiano are an icon of the center of Rome and, together with our investors, we aim to transform them into a unique landmark for the city and internationally”.
Lorenzo Niccolini, Partner - Head of Investment & Asset Management of Merope Asset Management, added: "After the investments and the important operations carried out in Milan - an increasingly competitive market - we are happy to announce our first investment in Rome. We strongly believe in the growth of the capital's market, especially in the Via Vittorio Veneto area, an area that is undergoing a strong repositioning”.
The transaction on this portfolio is in line with the investment objectives of Merope and the family offices that invest with the firm. To date, Merope has already invested over 800 million euros.
For the Roman operation, Merope was assisted by Dentons and Morri & Rossetti who acted as legal advisors, by Belvedere & Inzaghi as administrative advisor and by Savills, Colliers and Jones Lang LaSalle as technical and commercial. The Giancaspero & Carlucci associated studio coordinated the tax and corporate aspects. Dentons with the financing team and the associated studio Giancaspero & Carlucci also acted as advisor in the set-up of the bank loan. While Intesa Sanpaolo and Banco BPM were assisted by the Advant-NCTM law firm. Finally, the notarial operations were entrusted to the Busani & Partners studio and, in particular, to the notary Giacomo Ridella.
