Club MeetingMilan, June 13rd, 2017

Office & Retail - What, where and who will win?

PRIME IN MILAN AND A FEW HIDDEN GEMS IN SECONDARY LOCATIONS... BUT HOW MUCH IS LEFT?

Patience, prime stock and strong local partnerships have rewarded savvy investors in the last few years. However, delayed economic recovery and lack of product is leading some to rethink their strategy in order to keep playing the long game. Can innovative forms of value added, reconversion and development strategies offer new options and risk diversification? Or should investors play it safe with existing stock and look elsewhere? Among the issues and opportunities our members wish to debate with local peers are:

• Hunting for prime office and retail – primary vs. secondary locations 
• What works best in Italy and why - new trends and formats 
• Retail and office portfolios – winning formula or better off solo? 
• Downsizing, mixed use, reconversions and new development concepts 
• Tenant demand 
• Developers, investors and gov – creating winning partnerships ready for the long game 

...and we will narrow down the focus according to the Members’ wishes. We will keep this to a maximum of 40 GRI members to ensure the quality and exclusivity of the discussion (first-come, first-served).

Timetable

Tuesday, June 13th

10:45 - 11:15  Welcome coffee


11:15 - 12:15  Discussion. GRI style, no speeches no presentation.


12:15 - 13:45  Club Lunch

About GRI Club

The GRI Club is a global fraternity of real estate leaders.
Members find the club a useful way to maintain valuable relationships, find new business partners, and strengthen their global networks.

If building close relationships with leaders in the industry can be useful, we welcome you to join us.

Fulvia D'Ippolito

Fulvia D'Ippolito

Senior Director

+44 20 7121 5072

[email protected]
Fulvia D'Ippolito
+44 20 7121 5072
Senior Director
GRI Club
Biography:
Fulvia is a Senior Director at GRI, with direct responsibility to lead GRI’s activities in Italy, and the GRI Hospitality Club on a Pan-European level. She joined GRI in 2014 to launch the GRI business in Italy while helping to strengthen GRI’s portfolio in Sub Saharan African markets. She has over 18 years of experience in b2b event production and brand marketing. Prior to joining GRI, she was Director at Fiera Milano Media for many years, and brand consultant for Italian start-ups in London. Fulvia is Executive MBA from MIP Politecnico di Milano (2012) and M.Sc. in Business & Corporate Communications, University of Siena, Italy.
Related events

Club Partners

REAG Real Estate Advisory GroupMF Real Estate Advisory
REAG Real Estate Advisory Group

REAG Real Estate Advisory Group, a division of Duff and Phelps, provides real estate advisory services tailored to meet the requirements of specific jurisdictions and aims to develop and increase the value of individual assets or properties. Headquartered in Italy, REAG has a network of over 750 professionals across Europe. 

Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, dispute and legal management consulting, M&A, restructuring, governance and regulatory consulting.

MF Real Estate Advisory

MF Real Estate Advisory, together with its sister company MF Law & Tax Firm, is a “boutique” real estate company that provides its Clients with highly specialized advisory services for the sourcing, management and disposal of real estate portfolios in Italy.

MF’s aim is to achieve the objectives set forth by the Client by designing investment strategies, improving and maximizing value and, overall, making the investment successful until the disposal of the underlying assets.

Together with the asset management and legal team, MF responds to all the requirements relating to the origination of opportunities and the subsequent management of the portfolio, thus meeting all the needs of the current market.

MFRE is the result of synergies of multiple professionals combining different areas of expertise in investment, financing, property, facility and asset management in addition to the legal advisory field.

Over the years, MF has been entrusted with the management and/or advisory of portfolios (consisting of shopping centres, retail parks, factory outlets, logistics, offices, residential buildings) estimated in a value of over 800 million Euros.

Some confirmed participants
Alessio LucentiniAlessio LucentiniMD and Head of Asset & Transactions MgmtAXA IM - Real Assets
Andrea CornettiAndrea CornettiManaging DirectorPrelios SGR
Antonio MazzaAntonio MazzaGeneral Manager ItalyAareal Bank
Chris PapachristophorouChris PapachristophorouManaging Partner & FounderInvel Real Estate Partners
Claudia BoniClaudia BoniHead of Real EstateOviesse
Corrado TrabacchiCorrado TrabacchiInvestment DirectorOrion Capital Managers
Daniel BuaronDaniel BuaronChairmanFirst Atlantic Real Estate
Davide Albertini PetroniDavide Albertini PetroniManaging DirectorRisanamento
Domenico BilottaDomenico BilottaManaging DirectorInvestiRE SGR
Eleonora GalloniEleonora GalloniHead of Investment & Asset ManagementMF Real Estate Advisory
Ermanno NiccoliErmanno NiccoliManaging DirectorKlépierre Management Italia
Gabriele CerminaraGabriele CerminaraCOOAedes Group

More records

Alessio Lucentini
MD and Head of Asset & Transactions Mgmt
AXA IM - Real Assets
Italy
Biography:
Alessio Lucentini is Head of Asset Management and Transactions for Italy and a member of the AXA IM - Real Assets Executive Committee. Having joined in 2002, he was appointed Gatekeeper for the Italian market in 2005 and Managing Director in 2008. Prior to joining AXA IM – Real Assets, Alessio developed his experience in valuation, asset and investment management by working for Cushman & Wakefield and AIG Lincoln. Alessio has 18 years of experience in the real estate sector and holds a degree in Economics from the University of Rome.
Andrea Cornetti
Managing Director
Prelios SGR
Italy
Segment: Asset manager
Biography:
Andrea Cornetti is the General Manager of Prelios SGR since 2016. In Prelios since 2013, previously he was the Company’s CIO. Prelios SGR is one of the leading real estate asset management companies in Italy. The company is active in promoting, setting up and managing real estate investment funds, in real estate advisory and in third-party separate accounts management and currently manages 32 funds, (including 2 umbrella funds) and 3 separate accounts with nearly € 4 Bln AUM. Previously he was Head of Strategy and Business Development at DeA Capital RE SGR (formerly Fimit SGR). While in Fimit he performed transactions for an overall value of approximately €4bn. He has a degree in Economics and Commerce and an MBA at St. John’s University.
Antonio Mazza
General Manager Italy
Aareal Bank
Rome | Italy
Segment: Antonio is General Manager of Aareal Bank AG – Italy and board member of several Italian companies within the Aareal Group. Anto
Biography:
Antonio is General Manager of Aareal Bank AG – Italy and board member of several Italian companies within the Aareal Group. Antonio has been working for almost 25 years in the real estate market for both Italian and foreign banks (namely Cariplo, Banca Intesa, Barclays Group, DEPFA Bank AG and Aareal Bank AG). Antonio is a Teaching Fellow at SDA Bocconi School of Management and member of RICS. Following a law degree in 1989, he gained an Executive Master of Business Administration (EMBA) at MIP, School of Management Politecnico di Milano. He is coauthor of two books on property finance: “Finanziamento Immobiliare” ( Egea, Milan 2010) and “Property Finance – An international approach” (Wiley, London 2015).
Chris Papachristophorou
Managing Partner & Founder
Invel Real Estate Partners
London | United Kingdom
Segment: INVESTOR
Biography:
Chris is the founder and Managing Partner of Invel Real Estate, a European Investment and Asset Management platform. Since inception, Invel has completed a number of transactions in Italy, the UK, Poland, Cyprus, and Greece, where it acquired a majority stake in the country’s largest REIC. Across Europe, Invel currently owns and manages circa $2 billion of assets. Prior to Invel, Chris was Global Head of RREEF Opportunistic Investments, having led and managed transactions in excess of $20 billion.
Claudia Boni
Head of Real Estate
Oviesse
Corrado Trabacchi
Investment Director
Orion Capital Managers
Milan | Italy
Segment: Corrado Trabacchi is an Investment Director at Orion Capital Managers and is based in Milan. He is mainly responsible for the ac
Biography:
Corrado Trabacchi is an Investment Director at Orion Capital Managers and is based in Milan. He is mainly responsible for the acquisition and asset management of properties across Italy. Since joining Orion in 2003, he has been involved in Orion’s Italian investments and sales with an aggregate value of over €1 Billion. This has included office refurbishment projects, logistics investments, and shopping centre acquisitions. Mr. Trabacchi has a degree in Finance from Bocconi University in Milan, where he specialized in Real Estate Private Equity Funds.
Daniel Buaron
Chairman
First Atlantic Real Estate
Milan | Italy
Segment: Investment Manager
Biography:
Daniel Buaron is Chairman of First Atlantic Real Estate (FARE), re-founded by him in 2014, two years after the sale of FARE Group to the DeAgostini Group. In fact FARE Group was founded by Daniel in 1998 and was the Italian operating partner of Goldman Sachs’ Whitehall Funds until 2007. In 2005, he founded FARE SGR which became the leading Italian RE fund management firm after the merger with FIMIT SGR (2011) with over 10 billion of AuM. Prior experiences include being Founder, CEO and Vice Chairman of Tradital S.p.A. and CEO of Metropolis S.p.A.. Mr. Buaron began his career with JP Morgan. He graduated with a business degree from Università Bocconi and received his MBA from Harvard Business School in 1976.
Davide Albertini Petroni
Managing Director
Risanamento
Milan | Italy
Segment: Developer
Biography:
Born in 1962, he graduated in Civil Engineering in 1988. Since 2009, he is Managing Director of Risanamento S.p.A. He was CEO of Immobiliare Cascina Rubina owning Sesto Project designed by Renzo Piano for 963.500 sqm and is still CEO of all the subsidiaries of the Group. He sold assets for € 4.0 billion: Paris properties’ portfolio for €1,5 billion, a prestigious building in New York for €0,4 billion and other Italian assets. He is managing the mixed-use Development Project in Milan - 440,000 sqm to be built. Previously, he headed the Real Estate Development by IPI (Fiat Group), being Director of the subsidiaries. Until 2000, he worked for a Construction Company, dealing with the construction of infrastructures in Europe.
Domenico Bilotta
Managing Director
InvestiRE SGR
Biography:
Graduated with honours in Economics and Business at “La Sapienza” University in Rome, Professional Accountant and Auditor, he has nearly 25 years of experience in Real Estate and Finance, having held high level positions in the Advisory, Property, Asset and Fund Management sectors with some leading national and international real-estate players.
Eleonora Galloni
Head of Investment & Asset Management
Milan | Italy
Segment: Real Estate Advisory
Biography:
Eleonora is responsible for deal origination and preliminary feasibility analysis of potential investments. She works alongside Clients for the underwriting of the business plans as well as advising on short term and long term exit strategies. Eleonora also coordinates the other teams of the MF group in providing the full line of services pre and post-acquisition.
Ermanno Niccoli
Managing Director
Klépierre Management Italia
Italy
Biography:

Ermanno Niccoli was born in the province of Pisa, graduated in Law at Milan University and practiced as a lawyer until 1989. From 1990 till 2001 he worked for french institutional investors specialized in the development of shopping centers. Managing Director since 1996, in 2001 he became the CEO of Corio Italia which in 2015 became Klepierre Management Italia.

Gabriele Cerminara
COO
Aedes Group
Biography:
Gabriele has a degree in Business Administration at Bocconi University of Milan, with 20 years of experience in listed companies & international organizations, is responsible for Investment&Asset Management, Investment&Development Management, Property Management, Legal Real Estate, Human Resources, General Services e Information&Communication Technologies. He has gained 10+ years’ experience in administration & finance, as CFO of Aedes Siiq S.p.A. He has managed many strategic assets, including the operation in 2014 with the restructuring of debt for 450 million euros and capital increases in four tranches for 240 million, financing operations more than 4 billion euros of investment 8 divestment transactions for more than € 1 billion.
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