BOCCONI STUDENTS FOR REAL ESTATE PRESENTATION
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BOCCONI STUDENTS
FOR REAL ESTATE
PRESENTATION
1
HISTORY AND STRUCTURE
Our History
6TH DECEMBER 2018 4TH MARCH 2019 7TH MAY 2019 27TH NOVEMBER 2019 11TH APRIL 2020
Bocconi Students for Real The foundation of BSRE is First event “Real Estate Event ”Value Creation in BSRE has grown to a
Estate is projected and formalized. Developments in the City Real Estate Investments total of 58 members;
founded by Carlo Rositani, The association is of Milan” in collaboration and Developments” with • 9 Members of
Rachele Roffi, Antonio introduced to the students with Professor G. Morri Professor G. Morri (SDA the Board
Marotta, Giuseppe Vatiero, community and selects its (SDA Bocconi) and Bocconi), G. Rossi (Prelios) • 12 Senior
Boris Borozan and other first 16 members. Academic Fellow P. and G. Vairani (Kryalos). Analysts
Bocconi students. Benedetto. • 37 Analysts
Acceptance rate: 30%
Our Committees
VALUATION & MARKETING & HUMAN PROJECTS & DIGITAL &
ADVISORY ADVERTISING RESOURCES INTERNAL AFFAIRS TECH
RESEARCH COMMUNICATION CASH & LEGAL AFFAIRS NETWORKING
2
SERVICES PROVIDED BY THE ASSOCIATION
Core Competencies
VALUATION RESEARCH ADVISORY
o Comparative Market Analysis o Market Reports o Buyside Advisory
o Income Capitalization o Financial Performance Analysis o Case Studies
o Cost Depreciation Approach o Industry Analysis o SWOT Analysis
o DCF o Surveys o 5 Porter’s Forces
o Multiples o Empirical Analysis
o Implementation of internal
Databases
3WHAT WE OFFER
A valuable group of selected, motivated, high-
achieving and experienced students with expertise
in different fields:
o Financial knowledge
o Knowledge of real estate valuation and finance
o Advanced knowledge of Microsoft Office
o Mathematics skills
o Statistical and Econometrics competences
Possible advantages from the collaboration: Where our members worked or are working:
o Low-cost consultancy services o Banca IMI o ING
o Network of selected and qualified students who o Bayview Real Estate o Invel Real Estate
are approaching the job market (saving money and time o JP Morgan
in the recruiting process ) o CBRE
o Deutsche Bank o KPMG
o Feedback on possible investments
o Generali o Kryalos
o HSBC o Morgan Stanley
4PAST PROJECTS
MILAN, STUDENT HOUSING– BUILDAROUND
LOCATION: Bovisa, Milan
TYPE OF ASSET: Industrial Shed
OBJECTIVE: Acquire the building and convert it to a student-
oriented residence, over the course of 18-24 months
BSRE'S SERVICE: Market analysis, Comparable and Case
Study analysis, Business Plan
EXIT STRATEGY: Six different exit scenarios
MILAN, VIA MOLINO DELLE ARMI – BUILDAROUND
LOCATION: Via Molino delle Armi, Ticinese, Milan
TYPE OF ASSET: Office
OBJECTIVE: The project envisages the change of intended
use to residential and the transformation of the office into a
two-room apartment and two three-room apartments.
BSRE'S SERVICE: Market analysis, Comparable and Case
Study analysis, Business Plan
EXIT STRATEGY: Fractioned sale of the apartments
5PRESENT PROJECTS
MILAN, VIA NOTO – BUILDAROUND
LOCATION: Via Noto, Ripamonti, Milan
TYPE OF ASSET: Office
OBJECTIVE: Acquire the building and convert it to residential (8
apartments).
BSRE'S SERVICE: Market analysis, Comparable and Case Study
analysis, Business Plan
EXIT STRATEGY: Two different exit scenarios. (fractioned sale
and rent to a single tenant before selling)
FLORENCE, VIA DELLA ROBBIA – BUILDAROUND
LOCATION: Via della Robbia, Florence
TYPE OF ASSET: Residential
OBJECTIVE: Acquire two apartments, fraction them in 4
apartments and renovate them before selling.
BSRE'S SERVICE: Market analysis, Comparable and Case Study
analysis, Business Plan
EXIT STRATEGY: Fractioned sale, based on a one-year horizon
investment, involving two different exit prices, given the
Coronavirus outbreak.
MILAN, VIA VISCONTI DI MODRONE– BUILDAROUND
LOCATION: Via Visconti di Modrone, San Babila, Milan
TYPE OF ASSET: Office
OBJECTIVE: Acquire the asset and convert it into residential (3
apartments)
BSRE'S SERVICE: Market analysis, Comparable and Case Study
analysis, Business Plan
EXIT STRATEGY: Fractioned sale of 3 apartments.
6BRANDED APARTMENTS PROJECT - CBRE
OBJECTIVE: Detailed report focused on short-term rentals with a
focus on the fast-growing niche of branded apartments, for
investment and consulting purpose.
OUTPUT: The research gives a broad spectrum of the submarket
of branded apartments pointing out benefits and downturns, the
main acquisitions occurred, market shares, different business
schemes, target customer and period, with a more precise
comparison among long-term and short-term rents.
After this general overview, the business strategy adopted by the
main competitors is analysed in detail, with a first focus on the
main hotellerie brands which have decided to diversify in the
world of short-term rentals and then having a look to the new
entrants in the market. Each competitor is examined in its history,
main acquisitions, financial data and business model.
BSRE'S SERVICE: In-depth Research, Market analysis, Competitor
Analysis.
7OTHER GROUP PROJECTS
Castiglioni Residence
The residence is located just next to Bocconi University and
Parco Ravizza. Being right in the area of the new campus,Castiglioni
residence benefits from the dynamism of a substantially young and
busy neighbourhood, full of students, as well as bars and
restaurants. The nearest metro station - Porta Romana M3 - is 17
minutes away (on foot), but there are several bus stops in the
nearby (59, 79, 90) as well as tram n.9 stop in Via Bocconi.
BSRE has produced a report including:
• Market overview involving data about Student Housing in Milan
and Trends in Italy;
• Cost structure;
• Revenues.
Office Property Valuation Methods Real Estate Trends in Milan
A Commercial Property is a business premises in which Space is a Once analysed the Market intensity index of metropolitan area
means of production to make other goods and services, where of Milan, BSRE produced a report including:
strategic control is often of less value. The project aim was to
describe the valuation method usually implemented for Office • Trends in the office sector;
properties such as:
• Residential investment business;
• Income Capitalization Comparison Approach;
• Future perspectives in Milan.
• Direct Capitalization Approach;
• Discounted Cash Flow Approach (DCFA).
8OUR EVENTS AND PARTNERSHIPS
EVENTS
BSRE has organized two public events:
• “Real Estate Developments in the City of Milan” on May 7TH
2019, in collaboration with Professor Giacomo Morri (Real Estate
Finance, Finance Department, Bocconi University) and
Academic Fellow Paolo Benedetto (Real Estate Finance, Finance
Department, Bocconi University).
• “Value Creation in Real Estate Investments and
Developments” on November 27TH 2019, in collaboration with
Giacomo Morri, (Professor of Real Estate Finance, Bocconi
University) as a moderator, Gianluca Vairani (Kryalos SGR) and
Giuseppe Rossi (Prelios Group)
PARTNERSHIPS
BSRE has established an academic collaboration with Professor
Giacomo Morri (Real Estate Finance, Finance Department, Bocconi
University).
The professor has offered to the members teaching notes from the
MSc course "Real Estate Finance" and his
pubblication "Commercial Property Valutation".
OTHER ACTIVITIES
During the COVID-19 epidemic, Bocconi Students for Real
Estate devolved its fees to "Fondo di Mutuo Soccorso del Comune
di Milano e Regione Lombardia", in support of Italy.
9FUTURE PIPELINE
At BSRE we constantly try to expand our network of partners, for
this reason we work hard to find new Real Estate companies to
collaborate with.
We consider these partnerships a real opportunity to grow and we
always strive to provide professional and accurate services.
The companies we are planning to contact are:
• CBRE • Engel & Volkers
• Agencasa • Redo Sgr
• EY • Roomie
• Coima • Campus X
Our project also plans to create a network of university
associations that deal with Real Estate to share our common
interests and our passion.
We believe that this is a good way to foster our knowledge in non-
Italian market scenarios.
We are currently contacting:
• Hong Kong Real Estate Club
• Florida State Real Estate Club
• Harvard Real Estate Club
• Yale University Real Estate Club
10CONNECT WITH US
Bocconi Students @bocconirealestate Bocconi Students
for Real Estate for Real Estate
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