Portfolio Acquired operations:

Villamarzana (RO)

Real estate complex with previous destination as "Michelangelo Da Vinci" restaurant and discotheque

The structure sees the consistency of 2 buildings used as a restaurant, external structures used as a summer pub and pizzeria as well as n. 2 non-operational Airliners tied down to the ground which were used as food and drink areas with one Control Tower access to both. The commercial appraisal value in the acquisition phase was Euro 15 million
The structure was the subject of a real estate execution for a mortgage in 2001, an execution which forced the business to close in 2015 and which led to a collapse in the real estate and commercial value of the structure. Our activity consisted in negotiating the terms for the transfer of real estate property with the relative debts in order to be able to maintain possession over time by reconstructing the rights of third party creditors and those entitled to them which to date have been correctly identified and registered. The strategic objective to be pursued will be the purchase of the Mortgage Credit at the lowest possible market price by the Credit Institute proceeding with the execution, the release of the Sureties of the Members requesting the original loan and their simultaneous economic liquidation as pre-agreed, the restructuring and enhancement of the structure in all its potential over time, free from weight, constraints and privileges.

Value

The capital increase of the Holding company thanks to this acquisition was of a nominal Euro 15 million (Assessed data) to which the property will have to return in terms of market value over time, as it has now dropped drastically for the reasons mentioned above.

Subsequent projects:

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