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Hines, Apollo and Coima offer for Edizione

According to press sources, Hines, Apollo and Coima aim at the real estate assets of Edizione.  The Benetton family could sell its entire real estate assets, with the exception of the United Colors stores. A potential deal worth almost one and a half billion euros, which would see the sale of iconic buildings and buildings, such as the Fondaco dei Tedeschi and the Hotel Monaco in Venice, Palazzo Stampa in Milan, the former goods exchange in Florence which today houses an H&M megastore, the imposing building in Piazza Augusto Imperatore in Rome where the Bulgari-branded luxury hotel will open in 2023.

The portfolio of Edizione Holding, concentrated at the end of 2016 in a company, Edizione Property, is 100% controlled by the holding. Apparently this would not be a real estate tender, but a bidding business run by Citi as the property’s advisor. The sale is not the only way: one of the hypotheses involves dividing the portfolio between the four branches of the Benetton family, always in the wake of a reorganization wanted by Alessandro Benetton. Returning to the Benetton real estate assets, this would have yielded revenues of 39 million in 2020 and would have a value of more than two billion euros.

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