Ream Sgr Acquires Former INPS Headquarters in Turin
Deal News | Dec 27, 2024 | Legal Community Italy
Ream SGR has successfully acquired the former INPS headquarters in Turin via its real estate Alternative Investment Fund named I-Tor. This transaction is backed by additional investors such as Yeldo GP Sarl, Fondo Finint Principal Finance III managed by Finint SGR, and Primula Costruzioni. This comprehensive project involves the complete renovation and repurposing of approximately 16,500 square meters of property in the historic center of Turin, transforming it into 94 luxury residential apartments, commercial spaces, parking garages, and cellars. The renovation aims to align the property with current building and energy standards, and also plans to pedestrianize a nearby street. Primula Costruzioni will handle the construction work while Immo Group manages the marketing. REAM SGR received legal assistance from Ontier, led by partner Roberto De Simone, while Yeldo was advised by Dwf with coordination by partner Luca Lo Po. The financing aspects were handled by UniCredit, which was assisted by Legance Avvocati Associati. The acquisition marks a significant move in the real estate sector, bolstering Ream SGR's asset management capabilities with a defined focus on upgrading real estate assets.
Sectors
- Real Estate
- Financial Services
- Legal Services
- Construction
Geography
- Italy – The entire transaction, including the acquisition of the INPS building, is taking place in Turin, Italy.
Industry
- Real Estate – The article is centered around a real estate acquisition which involves significant renovation and repurposing, thus directly tying to the Real Estate sector.
- Financial Services – The transaction involves financial structuring, investment by funds, and financing by UniCredit, making Financial Services another relevant industry.
- Legal Services – Multiple legal firms are involved in structuring and advising on this acquisition, making Legal Services relevant.
- Construction – Primula Costruzioni is entrusted with the renovation, marking the relevance of the Construction industry.
Financials
- Over 1.5 billion euros – Assets Under Management (AUM) associated with the various investment activities, including this acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| REAM SGR | Buyer/Target Company | Company | REAM SGR is a financial firm involved in managing real estate investment funds. |
| Yeldo GP Sarl | Investor | Company | Yeldo GP Sarl is an investing entity participating in the I-Tor fund. |
| Fondo Finint Principal Finance III | Investor | Fund | Managed by Finint SGR, it is another entity investing in the I-Tor fund. |
| Primula Costruzioni | Construction | Company | Primula Costruzioni will oversee the renovation works on the acquired property. |
| Ontier | Legal Advisor | Company | Legal firm advising REAM SGR on the acquisition. |
| UniCredit | Financing | Company | UniCredit is providing financial backing for the acquisition. |
| Legance Avvocati Associati | Legal Advisor | Company | Advised UniCredit on financing aspects of the acquisition. |
| Immo Group | Marketing | Company | Responsible for marketing the renovated property. |