A number of large-ticket deals are expected to lift Italy’s commercial real estate investment volumes to around EUR 5 bn by the end of the year, Paolo Bellacosa, head of CBRE’s Italian capital markets team told PropertyEU in an interview during the EXPO REAL fair in Munich.
A number of large-ticket deals are expected to lift Italy’s commercial real estate investment volumes to around EUR 5 bn by the end of the year, Paolo Bellacosa, head of CBRE’s Italian capital markets team told PropertyEU in an interview during the EXPO REAL fair in Munich.
‘In the first three quarters of 2010, around EUR 3.1 bn of assets were transacted in the market, with retail representing the lion’s share of activity. Currently, negotiations are taking place on several large-ticket assets which should bring the total to EUR 5 bn this year,’ he said. The figure would be in line with 2009 investment volumes of EUR 5 bn.
According to Bellacosa, the market continues to see strong interest from international investors including German open-ended funds, pan-European asset managers and private equity groups. 'If macro-economic conditions remain stable, we should finally see a turning point in the Italian investment market next year,' he said.
