Two real estate complexes in the center of Milan, now owned by Intesa San Paolo, are transferred to Coima Sgr in order to enhance the value of the properties in the current market context. The two companies report this jointly. These are the properties in via Clerici 4-6 (and piazza Paolo Ferrari 10) and via Verdi 9-11-13. These are two historic headquarters of the banking group. The one in via Verdi, in particular, was the most important headquarters of the ‘old’ Cariplo. But they are not the only ones: there is also another valuable property in Rome (in via dei Crociferi 44) and further properties being released or disposed of in the coming months in various cities including Milan, Turin, Rome, Brescia, Bergamo , Bologna, Padua and Florence.
In total, the real estate portfolio that will be contributed is worth more than 500 million euros. Intesa San Paolo will receive shares of the investment vehicles managed by Coima to which the properties will be transferred. The transaction will be completed upon the occurrence of certain conditions precedent. The agreement also provides for the study of further areas of real estate collaboration.
