Under its distinctive business model, Pirelli RE operates in the co-investment sector - in funds and companies that own real estate and Non Performing Loans (NPL) - which generates returns thanks to the investment of capital, and where co-investors are top international investors; Pirelli RE is also active in real estate management (fund & asset management) and in the provision of specialized services, which require particular skills in best enhancing the value of portfolios and in providing high quality facility, property, credit servicing and agency services.
In order to best face the current phase in the real estate cycle, ensuring the necessary governance of the business, Pirelli RE has revised its internal organizational structure by creating three Divisions. These ensure focus by sector, namely the Residential, Commercial and Non Performing Loans (NPL) Sectors, each of whom has been given responsibility for both Asset Management and Specialized Services, including on a geographical basis. Integrated Facility Management, a sector in which Pirelli RE is present through a 50% interest in a joint venture with Intesa Sanpaolo, is not included in the three divisions.
Residential Asset Management & Services
Commercial Asset Management & Services
NPL Asset Management & Services
In order to best face the current phase in the real estate cycle, ensuring the necessary governance of the business, Pirelli RE has revised its internal organizational structure by creating three Divisions. These ensure focus by sector, namely the Residential, Commercial and Non Performing Loans (NPL) Sectors, each of whom has been given responsibility for both Asset Management and Specialized Services, including on a geographical basis. Integrated Facility Management, a sector in which Pirelli RE is present through a 50% interest in a joint venture with Intesa Sanpaolo, is not included in the three divisions.
Residential Asset Management & Services
Commercial Asset Management & Services
NPL Asset Management & Services
Residential Asset Management & Services
The Residential Asset Management business identifies and promotes transactions involving the purchase of real estate investments for residential purposes and property development deals involving the building of new residential complexes or renovation of existing ones.
These activities consist of trading operations involving the acquisition of properties and their subsequent placement on the market through the sale of individual residential units. Development activities involve managing the process which includes the identification of attractive development opportunities, their construction and their sale.
The Residential Asset Management business identifies and promotes transactions involving the purchase of real estate investments for residential purposes and property development deals involving the building of new residential complexes or renovation of existing ones.
These activities consist of trading operations involving the acquisition of properties and their subsequent placement on the market through the sale of individual residential units. Development activities involve managing the process which includes the identification of attractive development opportunities, their construction and their sale.
Commercial Asset Management & Services
The Commercial Asset Management business identifies and coordinates investment opportunities in non-residential property sectors. This business involves the enhancement of the value of properties with a view to their subsequent repositioning on the market, as well as the development of new commercial complexes.
This business unit is organized into specialized teams according to the nature of the asset involved: Offices, Retail, Industrial.
The Commercial Asset Management business identifies and coordinates investment opportunities in non-residential property sectors. This business involves the enhancement of the value of properties with a view to their subsequent repositioning on the market, as well as the development of new commercial complexes.
This business unit is organized into specialized teams according to the nature of the asset involved: Offices, Retail, Industrial.
NPL Asset Management & Services
The Non Performing Loans Asset Management business plans and coordinates financial transactions associated with the acquisition and management of non performing loan portfolios originating from banks, ie. receivables stemming from loans secured by mortgages on disputed real estate.
Pirelli RE is Italy’s first mover and one of its leaders in this strategic sector, where it is now recognized as a reliable partner for large financial institutions with its combined offer of financial, real estate and legal expertise. The Group has an integrated platform of services, the only one of its kind in Italy, allowing it to manage non performing loans both in and out of court, to value NPL portfolios and provide master servicing to securitized portfolios (administrative management of loans).
Its wide geographical reach, along with synergies with the other service companies in the Pirelli RE Group, represent an important competitive advantage. In this sector as well Pirelli RE’s hallmark ability to devise and structure transactions internally has proved a winning card when securing asset management contracts, in which it participates with a minority stake with the majority held by financial partners like Calyon, Morgan Stanley and GE. At the end of 2007 the portfolio under Pirelli RE’s exclusive management had a net book value of about 2.4 billion euro, corresponding to 100,000 lines of credit.
The Non Performing Loans Asset Management business plans and coordinates financial transactions associated with the acquisition and management of non performing loan portfolios originating from banks, ie. receivables stemming from loans secured by mortgages on disputed real estate.
Pirelli RE is Italy’s first mover and one of its leaders in this strategic sector, where it is now recognized as a reliable partner for large financial institutions with its combined offer of financial, real estate and legal expertise. The Group has an integrated platform of services, the only one of its kind in Italy, allowing it to manage non performing loans both in and out of court, to value NPL portfolios and provide master servicing to securitized portfolios (administrative management of loans).
Its wide geographical reach, along with synergies with the other service companies in the Pirelli RE Group, represent an important competitive advantage. In this sector as well Pirelli RE’s hallmark ability to devise and structure transactions internally has proved a winning card when securing asset management contracts, in which it participates with a minority stake with the majority held by financial partners like Calyon, Morgan Stanley and GE. At the end of 2007 the portfolio under Pirelli RE’s exclusive management had a net book value of about 2.4 billion euro, corresponding to 100,000 lines of credit.