IGD SIIQ SpA has signed agreements with Sixth Street, companies controlled by Starwood Capital, and Prelios SGR SpA for the sale of a portfolio made up of 13 assets for a value equal to €258 million ($280 million).
This is a portfolio made up of eight hypermarkets (one each located in Chioggia, Porto d’Ascoli, Rome, Rimini, Conegliano, Ascoli Piceno and two in Bologna), three supermarkets (located in Civita Castellana, Ravenna and Rome) and two shopping malls (located in Bologna and Chioggia) that generates approximately €17 million ($18.4 million) in net annual rental revenues.
The operation will be carried out through a closed real estate investment fund (REIF under Italian law) called Food Fund, established and managed by Prelios SGR SpA, an asset management company of the Prelios Group with approximately €8 billion ($8.7 billion) of assets under management, to which IGD will transfer the properties. Sixty percent of the fund (class A shares with preferred r
