BNP Paribas Real Estate Advisory is believed to have hired CBRE's former head of capital markets Italy Paolo Bellacosa as part of an ambitious growth plan for its business in the country.
Bellacosa will start this week as general manager of BNP Paribas Real Estate Advisory Italy, with responsibility over the development of BNPPRE's capital markets, transaction, consulting and valuation activities in Italy.
He held the post of managing director – head of Capital Markets Italy at CBRE from 2004 to 2016 and he was also a member of CBRE Italy's board.
At CBRE, he led a team of 10 M&A and brokerage professionals personally executing over €5 bn worth of deals across some 50 transactions during the past few years.
His appointment comes at a time of renaissance for the Italian real estate market, which has recently experienced strong interest from international investors driven by the country's higher returns versus other mature European markets.
