Invel enters bond market with origination of €45m bond in Italy

Invel Real Estate (‘Invel’), the investment firm focusing on real estate opportunities in key markets in southern Europe including Italy, Greece and Cyprus, has originated and advised in the due diligence and structuring of a €45 million bond on behalf of an institutional investor. The 2-year bond has been issued by Aedes SIIQ, an Italian REIT listed on the Milan Stock Exchange and has been secured, among others, against two office properties in Italy.

The first property is an 11,000 sq m office tower located in Milan in Viale Richard 3, within the Navigli area, fully let to a leading listed multinational communications group. The office tower is undergoing a complete renovation and is expected to achieve a LEED Gold certification. The second property is located in Rome Via Veneziani 56 and is an office complex of c. 22,000 sq m located in the Parco de’ Medici business district, currently let to prime tenants.

Invel’s Head of Acquisitions in Italy, Francesco Molinari, said: “This transaction represents Invel’s first in the origination and structuring of bonds secured by real estate assets, and this is a market where we see significant opportunities moving forwards due to the recent post-Covid credit market situation and our ability to leverage our institutional approach and local knowledge and network.”

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Notes to Editors:

• Invel Real Estate Management (“Invel”) was established in March 2013 to take advantage of opportunities in the European real estate markets by offering investors the ability to co-invest on a transaction-by-transaction basis.
• Invel brings together a team of investment professionals with several decades of investment experience across real estate asset classes in Europe. Their combined transaction experience is in excess of €20bn of real estate gross asset value, having completed numerous landmark transactions with successful results.
• Invel is headquartered in Jersey and, through its affiliated entities, has offices in the United Kingdom, Italy, Greece, Cyprus, Luxembourg and the Netherlands. Invel’s local presence and in-depth experience in selected European markets allows it to identify and efficiently execute a broad range of real estate investment opportunities.
• Invel currently manages circa €3bn of assets across Europe.