Benson Elliot buys Italian shopping center
Benson Elliot has acquired Centro Commerciale La Meridiana, a shopping center in Bologna, Italy, from TMW Immobilien Weltfonds, an open-end global real estate fund controlled by CACEIS Bank Deutschland GmbH. Meridiana was purchased through the acquisition of 100 percent of the share capital of Raptor Srl, the owning special-purpose vehicle, and terms of the transaction were not disclosed.
Meridiana is a 376,737-square-foot shopping center anchored by an Esselunga hypermarket (which is not included in the transaction), Virgin Active fitness center, nine-screen UCI Multiplex cinema, OVS and Unieuro.
Bologna is the capital of Italy’s Emilia-Romagna region. For its Italian exposure, Benson Elliot has acquired six properties across the country’s four largest economic regions (Lombardy, Lazio, Veneto and Emilia-Romagna). Benson Elliot’s Italian investments to date represent value of more than €500 million ($567 million), and include the Westin