ARE RENZO PIANO’S HOUSES ON SALE REAL ESTATE TRICKS OR FINANCIAL STRATEGY?

The district is located on the former Trentino Michelin factory and consists of 300 residential units, 18 thousand square meters of offices, 9 thousand square meters of shops, 5 hectares of park and 28 thousand square meters of open space (between avenues, squares and canals) . There are 18 buildings in all and 350 private homes, but, at the moment, many apartments are empty. Thus began a renegotiation with the creditor banks on the total debts of the property (for a modest sum of 150 million euros). Discounts on future real estate sales are planned among the relaunch points of the district, in fact a – let’s call it – really conspicuous sale. In the meantime, with a straight leg, the ownership changed Fondo: from a very Italian one, Castello SGR, to an overseas one, Oaktree. The Clesio Real Estate Fund participated by Isa, Caritro, Dolomiti Energia, Itas and other shareholders with smaller shares will finance the discounting operation.

The point is that the owner would like to pay off the debt as soon as possible, falling within the quotas and timing of the economic and financial plan signed at the time of construction. In addition to the sale operations, there is the one signed by Il Castello before it abandoned the ship, that is an agreement with the company Dove Vivo – which deals with the rental of properties to students for residential use. Someone therefore wonders if the neighborhood “Le Albere”, sooner or later, will become the student residence of the Trentino and surrounding areas about which rumors have been circulating for some years. Meanwhile, those wishing to make a deal and live in a designer apartment can take advantage of it. Why not?