GIC to sell Italian mall for €400m
Singapore’s sovereign wealth fund GIC has placed one of Italy’s largest shopping centers on the market, reported PropertyEU.
The sales price for RomaEst Shopping Centre is estimated to be €400 million ($454 million).
GIC became the sole owner of the asset in 2014, acquiring a 50 percent interest in RomaEst Shopping Centre from a fund managed by CBRE Global Investors.
RomaEst is located in Lunghezza, about 14 kilometers (9 miles) to the east of Rome city center. It covers an area of 92,700 square meters (997,814 square feet) and consists of a mall of 208 units, a hypermarket, and a 12-screen cinema.