About us

A constant on the Italian real estate scene

Next Re SIIQ S.p.A., established in Milan in 1977 and based in Rome, is one of the five listed real estate investment companies (“SIIQ”) in Italy.


million euros
The value of real estate assets in 2020


occupancy rate
Our properties are fully occupied


years since its foundation
A unique story

Reference shareholder

Since 2020, the company has been controlled by CPI Property Group, a major international group with headquarters in Luxembourg and shares listed on the Frankfurt Stock Exchange. With over 10 billion euros in assets, it is one of the leading real estate players in Berlin and the Czech Republic.

The story in points



Nova Re S.p.A. was established on 17 November 1977, with its registered office in Milan. It operates in the fields of real estate development.

Entry of Sorgente Sgr

The Tintoretto Fund, managed by Sorgente Sgr, acquires the majority stake in Nova Re (80.29%) held by Aedes SIIQ and launches the takeover bid. 2017

Capital increase (€ 69.5 mln)

First capital increase completed, including: - € 47.5 mln through the contribution by Sorgente Group of a real estate portfolio (GAV of € 128 mln) - € 22 mln in cash 2019

New business plan

Approval of the 2020-2024 Business Plan, which envisages significant growth in size achieved through two capital increases, the rationalisation of certain cost items and the optimisation of the financial structure.

Capital increase (€ 26.0 mln)

CPI Property Group completes a second capital increase including approximately € 26 mln in cash to acquire 50% plus one share of Nova Re's share capital and launches the takeover bid.

Top management

Stefano Cervone

Chief Executive Officer and General Manager

With a background in economics and lengthy experience with Banca Nazionale del Lavoro, he has been working in real estate finance for over 20 years. Some of his most important experiences include managing the corporate start-up of Sorgente Sgr - the top Italian asset management company -, of which he was General Manager, following the establishment, promotion and management of investment funds for which he was the company contact person for all segment authorities and bodies. He has also overseen important operations in Italy and abroad, including acquisitions in the United States of America (such as the Chrysler Building and Flatiron in New York), in Great Britain (Queensberry House in Mayfair, London), France and Switzerland.

Giovanni Cerrone

Chief Financial Officer

He has a degree in Economics and Business, a Masters in Business Administration from STOÀ (the IRI - Italian Institute for Reconstruction’s School of Management) and has worked as a manager in large public and private Italian companies: Enel, KPMG, Poste Italiane, Alitalia and Consip S.p.A.

Dedicated to the real estate sector for over 10 years, first as Executive Director and then as General Manager of Sorgente SGR, he has been responsible for the management of 23 funds (Real Estate and Credit) with assets under management worth 2.5 billion euros. He has launched 5 Real Estate Funds, 3 Non Performing Loans and Commercial Loans Management Funds. He has been with Nova Re SIIQ SpA since May 2018, where he is responsible, in coordination with the relevant corporate structures, for financial planning and treasury management of the Budgeting and Control process and the preparation of the Financial Statements in accordance with the relevant regulations and assisting the General Management and the Board of Directors in the definition and direction of the economic, tax and financial governance system. He is also the Manager appointed to prepare the company's accounting documents.

Claudio Carserà

Head of Real Estate

Having graduated in Management Engineering, after an initial experience of about 5 years with KPMG Advisory, he held management positions in the Real Estate sector where he has been working continuously for over 15 years.

He worked with the Sorgente Group from 2006 to 2020, holding various senior positions within the companies of the Group (Director of the Real Estate Area of the parent company Sorgente Group S.p.A., Deputy Chairman of the real estate services company Sorgente REM S.p.A., Chief Executive Officer of one of the two Asset Management Companies of the Group - Quorum SGR S.p.A., Head of Real Estate of Società Anonima Italiana Terreni e Sviluppo). During his work experience he has directly overseen the investment, management, optimisation and divestment of real estate assets, in Italy and abroad, of a real estate portfolio numbering more than 200 properties for a value of more than 2 billion euros. He has been involved in over 100 real estate transactions, including those involving the Galleria Alberto Sordi in Rome, the Rinascenti in Rome and Monza, the property in Piazza Cordusio, Milan, the property in London Queensberry House, and Hotel Oriente and Grande Albergo delle Nazioni in Bari. A Board Member from 2017 to 2020 and Head of Real Estate from 2018 to date in Nova RE SIIQ S.p.A., he now manages the real estate portfolio consisting of assets of different types and with a total value of approximately 120 million euros.

Nova Re SIIQ is associated with:

Next Re SIIQ S.p.A.

Company subject to the management and coordination of
CPI Property Group S.A.

Via Zara, n. 28 - 00198 Rome (Italy)
Share Capital € 63.264.527,93
VAT Number 00388570426

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all rights reserved.