Which are the origins of Pirelli RE?
Pirelli RE’s foundation dates back to the beginning of the ‘90s, when the IACI (Iniziative Agricole Commerciali Italiane) and Vitruvio joined forces to form a single company, Milano Centrale, the Group’s historical real estate brand.
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Which is Group the mission?
Its mission is to create value for all stakeholders through the origination of new investment opportunities which have a positive impact on the industry as well as on the environment and the community.
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Which are the key factors of the Business Model Pirelli RE?
it attracts top international investors and players who are able to delegate management of every stage in their investments to a single party;
it continues to increase the assets under management, while the maintenance of minority stakes aligns interests with those of other investors;
it produces important synergies between the different business sectors, raising efficiency while retaining a strong ability to create value in the different stages of the real estate market.
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How many people does Pirelli RE employ?
Pirelli RE now boasts a staff of approximately 3.000 employees, also including the offices in Hamburg, Berlin and Warsaw and is the principal asset manager in the Italian real estate sector
They are activity international market?
Pirelli RE currently operates in four other countries apart from Italy: Germany, Poland, Romania and Bulgaria. Its presence in Germany Pirelli RE is now positioned as one of the principal market players. This is the result of important joint investments devised and promoted by Pirelli RE in partnership with major international investors in accordance with its usual model: in DGAG - Deutsche Grundvermögen AG whose residential portfolio was acquired by the joint venture between Pirelli RE (35%) and RREEF of the Deutsche Bank Group (65%), and whose commercial portfolio was acquired by the joint venture between Pirelli RE (30%) and MSREF of the Morgan Stanley Group (70%); and in BauBeCon in partnership with the real estate funds of RREEF (which own 60% of the portfolio, with the other 40% held by Pirelli RE) Pirelli RE has also set up a joint venture with HSH Nordbank, one of Germany’s principal banks, giving birth to Pirelli RE Asset Management GmbH (80% Pirelli RE, 20% HSH Nordbank) and a consortium comprised of RREEF, GREF (Generali Group ), Borletti Group and Pirelli RE has signed a binding agreement with Karstadt Quelle AG (Arcandor Group) to acquire its 49 per cent stake in Highstreet, the investment company that owns the majority of the German department store premises. In Poland, Pirelli RE operates through Pirelli Pekao Real Estate, resulting from the acquisition of Pekao Development in 2006 and owned by Pirelli RE (75%) and Bank Pekao SA – Unicredit Group (25%). Pirelli RE and Cypress Grove International, a private equity real estate fund managed by affiliates of Grove International Partners, have established a joint venture (60% Grove and 40% Pirelli RE) which owns the assets managed by Pirelli Pekao Real Estate and intends to continue investing in Poland’s residential sector. The expansion into New Europe has continued with two new joint venture agreements between Pirelli RE and the UniCredit Group in Romania (80% Pirelli RE – 20% UniCredit Tiriac Bank) and Bulgaria (75% Pirelli RE– 25% UniCredit Bulbank), with which the Group plans to replicate the successful model already adopted in Poland.
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When does Pirelli RE fiscal year begin and end?
The fiscal year for Pirelli RE. starts on 1 st January and ends on 31 st December.
Where can I obtain information on Pirelli RE's latest financial results?
Financial Results are published quarterly in March (FY), May (1Q), September (2Q) and November (3Q).
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Where can I find information about Pirelli RE results of the previous years?
Financial results of the previous years are published on the Investor Relations in the section Financial statements.
read more >>
Pirelli RE’s foundation dates back to the beginning of the ‘90s, when the IACI (Iniziative Agricole Commerciali Italiane) and Vitruvio joined forces to form a single company, Milano Centrale, the Group’s historical real estate brand.
read more >>
Which is Group the mission?
Its mission is to create value for all stakeholders through the origination of new investment opportunities which have a positive impact on the industry as well as on the environment and the community.
read more >>
Which are the key factors of the Business Model Pirelli RE?
it attracts top international investors and players who are able to delegate management of every stage in their investments to a single party;
it continues to increase the assets under management, while the maintenance of minority stakes aligns interests with those of other investors;
it produces important synergies between the different business sectors, raising efficiency while retaining a strong ability to create value in the different stages of the real estate market.
read more >>
How many people does Pirelli RE employ?
Pirelli RE now boasts a staff of approximately 3.000 employees, also including the offices in Hamburg, Berlin and Warsaw and is the principal asset manager in the Italian real estate sector
They are activity international market?
Pirelli RE currently operates in four other countries apart from Italy: Germany, Poland, Romania and Bulgaria. Its presence in Germany Pirelli RE is now positioned as one of the principal market players. This is the result of important joint investments devised and promoted by Pirelli RE in partnership with major international investors in accordance with its usual model: in DGAG - Deutsche Grundvermögen AG whose residential portfolio was acquired by the joint venture between Pirelli RE (35%) and RREEF of the Deutsche Bank Group (65%), and whose commercial portfolio was acquired by the joint venture between Pirelli RE (30%) and MSREF of the Morgan Stanley Group (70%); and in BauBeCon in partnership with the real estate funds of RREEF (which own 60% of the portfolio, with the other 40% held by Pirelli RE) Pirelli RE has also set up a joint venture with HSH Nordbank, one of Germany’s principal banks, giving birth to Pirelli RE Asset Management GmbH (80% Pirelli RE, 20% HSH Nordbank) and a consortium comprised of RREEF, GREF (Generali Group ), Borletti Group and Pirelli RE has signed a binding agreement with Karstadt Quelle AG (Arcandor Group) to acquire its 49 per cent stake in Highstreet, the investment company that owns the majority of the German department store premises. In Poland, Pirelli RE operates through Pirelli Pekao Real Estate, resulting from the acquisition of Pekao Development in 2006 and owned by Pirelli RE (75%) and Bank Pekao SA – Unicredit Group (25%). Pirelli RE and Cypress Grove International, a private equity real estate fund managed by affiliates of Grove International Partners, have established a joint venture (60% Grove and 40% Pirelli RE) which owns the assets managed by Pirelli Pekao Real Estate and intends to continue investing in Poland’s residential sector. The expansion into New Europe has continued with two new joint venture agreements between Pirelli RE and the UniCredit Group in Romania (80% Pirelli RE – 20% UniCredit Tiriac Bank) and Bulgaria (75% Pirelli RE– 25% UniCredit Bulbank), with which the Group plans to replicate the successful model already adopted in Poland.
read more >>
When does Pirelli RE fiscal year begin and end?
The fiscal year for Pirelli RE. starts on 1 st January and ends on 31 st December.
Where can I obtain information on Pirelli RE's latest financial results?
Financial Results are published quarterly in March (FY), May (1Q), September (2Q) and November (3Q).
read more >>
Where can I find information about Pirelli RE results of the previous years?
Financial results of the previous years are published on the Investor Relations in the section Financial statements.
read more >>