TH Real Estate, acting on behalf of Warburg-HIH Invest Real Estate, has sold a retail property with a gross lettable area of 5,860m² in the Italian city of Bologna. The Gran Reno Retail Park was raised in 2005 and is currently fully occupied. It was bought by the Italian furniture chain Happy Casa. It was agreed not to disclose the purchase price.
“The acquisition of the property by an incumbent tenant delivered a robust capital gain at a time of an otherwise rather sluggish transaction dynamic at this site. The decisive criterion for the buyer is the outstanding location in a strategically significant hot spot for the home furnishing retail business in the region,” said Andreas Schultz, Managing Director at Warburg-HIH Invest.