Mediolanum Gestione Fondi Sgr has sold two buildings in the center of Turin. Buying the Trophy Assets located one at 35 Via Lagrange and the other at 7 Via Andrea Doria was a Club Deal set up under the direction of Immogroup a company that operates in Turin, Milan and Rome and carries out Agency and Advisory activities.
The properties are in the pedestrian island of the Savoy city are for office and commercial use and also include 35 garages and parking spaces.
The commercial premises have as tenants some of the major brands such as Lacoste, Gaudi, Slower, the House of Barolo and Galup, which account for less than 20 percent of the total area purchased.
“To set up the operation we started working during the first lockdown,” explains Beppe Caruso Ad of Immogroup, “and in a few weeks we managed to organize the Club Deal. The deed of purchase of both buildings took place in the past few days, respecting the established timing.”
Immogroup will handle the rental agency business for the stores and offices at 7 Via Andrea Doria. The property at 35 Via Lagrange, on the other hand, will undergo, starting in early 2022, a complete renovation with a change of use from offices to prestigious residential and will see Immogroup engaged as Sales Agency.
Among those involved are some of Turin’s leading real estate operators, one of them being the Minniti family, builders from Turin who have just completed an important construction site with the fractionation of luxury apartments in Via Lagrange 24.
“For this purchase,” adds Beppe Caruso, “Club Deal was assisted as a banking partner by the General Management of Banca Azzoaglio, a Piedmontese institution with more than 140 years of activity, which tailored a financial product for the buyer. The “debit line” was designed by leveraging not only with a mortgage loan but also with the addition of a flexible alternative product.
“The operational mode of the establishment of the Club Deal,” Beppe Caruso points out, “is the distinguishing feature of the ‘Trading Alternative Market’ in Real Estate, namely that market segment with investments of less than 30 million euros that, due to investment size, does not have Real Estate Funds as buyers.