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Banco Popolare seals real estate deal with Hines/COIMA
May 15, 2015 / 8:03 AM / 3 years ago

Banco Popolare seals real estate deal with Hines/COIMA

MILAN, May 15 (Reuters) - Italy’s Banco Popolare said on Friday it had sealed a partnership with real estate companies Hines Italia SGR and COIMA to manage 60 luxury buildings which are part of the bank’s non-core properties.

COIMA is a company linked to Italian real estate entrepreneur Manfredi Catella, who is also the head of Hines Italia.

The plan envisage capital markets operations and possibly the creation of special purpose vehicles, the bank said in a statement. Domestic and international investors will be asked to participate in project.

Reporting by Francesca Landini

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