Coop Alleanza 3.0 has sold a portfolio worth €50 million to Real Estate Spv Project 2203.
The portfolio is made up of properties mainly intended for retail use, units in shopping centres, supermarkets, neighbourhood shops and, on a residual basis, the tertiary and logistics sectors. The properties are mainly located in the Emilia-Romagna, Friuli-Venezia Giulia, and Puglia regions and are largely leased to several tenants, with an occupancy rate of nearly 96%.
The move is part of the cooperative's 2023/2027 Strategic Plan, which has earmarked the divestment of non-core real estate assets in order to strengthen equity and financial soundness.
In recent years, president Mario Cifello and general manager Milva Carletti have conducted a corporate rationalisation process, including the sale of part of the network, the latest being 54 stores in Rome to Gabrielli, and assignment to Radenza in Sicily and Gdm in Campania, along with the disposal of assets.
It closed its most recent financial year with a net loss of €132m, due to measures to offset inflation, as well as the implementation of a €40m investment to support its expansion plan.
