Signal Eurofund Retail Holdco I S.à r.l., a joint venture formed by Signal Capital Partners Limited and Eurofund Group, has received senior secured financing from Nuveen Real Estate. Provided through a real estate securitization structure, the financing will support the capex and repositioning project at Parma Promenade, in Italy, the Shopping Resort scheduled to open next summer.
The senior secured financing will fund a comprehensive transformation of Parma Promenade into Italy’s first open-air retail destination combining retail, leisure, restaurant, and outdoor activities. The repositioning involves extensive reconfiguration and extension of the existing 38,679-square-meter (416,337-square-foot) retail space, including:
Strategic anchor creation: Building out a 4,627-square-meter 49,805-square-foot) anchor unit specifically for Primark.
Mixed-use leisure development: Adding10,086 square meters (108,565 square feet) of open-air leisure facilities
