Investment Rationale
Porta Vittoria is a substantial mixed used real estate asset in the center of Milan being brought out of bankruptcy proceedings. The asset comprises over 45k sqm of accommodation to include six residential towers, a hotel, retail, gym and office space. This is a break-up and sale strategy based on the block and individual sale of the residential units, as well as the pre-let and sale of all other assets on the site.
This is an example of the flexible nature in which Stoneweg can work with investor partners to manage complex legal proceedings, whereby the asset has been taken out of a bankruptcy process in partnership with the original principal lending bank. By creating this partnership, the local Stoneweg team are responsible for the completion of the final CAPEX works, which are limited in scope, and to ensure an orderly sale of the asset.
This is a prestigious, landmark, project for Stoneweg in Italy, allowing the local Italian team and group level management to demonstrate our capacity to work within a complex legal and market environment.
Key Data
| All in Equity | € 65 million | |
| Target Investor Profit | € 35 million | |
| Target IRR | 15% – 20% | |
| Target Multiple | 1,5 X |