We’re pleased to share that Zenith Global, part of IQ-EQ, has successfully completed a significant real estate securitisation transaction in Italy, serving as master servicer, corporate service provider, and noteholders’ representative.
The transaction was on behalf of GMA, an Italian asset manager specialised in real estate securitisation and credit management. GMA manages complex assets through structured transactions, development projects, change-of-use initiatives and redevelopment programmes.
This was notably GMA’s third real estate transaction supported by Zenith Global, showcasing a strong and trusted relationship.
The new transaction centres upon the former Hotel Diana in Noli, Italy – a historic hospitality asset on the Ligurian coast, which is to be redeveloped and repositioned.
The project will involve a full refurbishment and change of use from hospitality to residential, including division of the property into approximately 10 residential units for subsequent sale to third parties.
The deal has been subscribed to by institutional and qualified investors across multiple classes of notes.
“Real estate securitisations continue to prove an effective tool for the management and enhancement of complex assets, helping to channel capital towards development opportunities across local markets,” commented Umberto Rasori, IQ-EQ’s Managing Director for Italy. “As part of IQ-EQ, we continue to make our expertise in managing structured finance transactions available to the Italian market, including within the real estate sector, where we are a market leader. We’d like to thank GMA for their trust and all the professionals involved in making this transaction a success.”
Acquired by IQ-EQ earlier this year, Zenith Global was a pioneer in the Italian real estate securitisation market and completed the first asset-backed security (ABS) issuance of its kind in Italy. In the years since, the Zenith team has carried out numerous transactions in partnership with leading domestic and international market players.
What is a real estate securitisation and what are its benefits?
