Spar acquires IL GRIFONE shopping centre in Bassano del Grappa (IT)

Spar acquires IL GRIFONE shopping centre in Bassano del Grappa (IT)

SES Spar European Shopping Centers is consolidating its position in the Northern Italian market. With the purchase of the IL GRIFONE shopping centre, in Bassano del Grappa, located in the highly affluent region of Vicenza/Veneto, the real estate developer and operator takes over a well-established location with immediate effect. The seller of the property is a fund of MCAP Global Finance (UK) LLP, the European branch of Marathon Asset Management LP, (Marathon) headquartered in New York. The centre, which opened its doors in 2009, boasts over 20,000m2 of gross leasable area (GLA), 7,000m2 of which already belonged to the SPAR Group (ASPIAG Italy) prior to the takeover. This latest addition takes the SES portfolio to 31 locations, three of which are already classed as large-scale Italian shopping malls.

Marcus Wild, SPAR Real Estate Board Member and SES Board Chairperson said: “IL GRIFONE is a prime location with considerable scope for development in an affluent region. As proprietor, SES has just what it takes to make this mall reach its full potential and network more closely with the city and surrounding area – a major opportunity for all concerned.”

Christoph Andexlinger, CEO, SES Spar European Shopping Centers: “With IL GRIFONE, we are expanding our portfolio to include a well-established mall. We are doing all we can alongside the local team to project this prime location into the future. We obviously want to further develop the experience-oriented dimension and enhance the quality of stay in the mid-term. IL GRIFONE is a perfect fit for us and the ideal complement to our two Italian shopping centres IPERCITY and LE BRENTELLE in Padua."


SES received legal advice from CERHA HEMPEL and Gattai Minoli & Partners. On the seller side, BNP Paribas acted as a broker and Legance as a lawyer. CBRE was previously entrusted with property and centre management. From September onwards, the new proprietor is SES Spar European Shopping Centers GmbH with SES Italy responsible for managing the venue. 


"This transaction demonstrates the outstanding commitment and ability of our team to provide effective and solution-oriented advice at all times, even in complex cross-border projects. We're delighted to have advised SES on the strategic expansion of its portfolio in Italy in a challenging market environment," said Mark Krenn, partner at CERHA HEMPEL.

"Once again, we successfully closed the deal thanks to the excellent cooperation with Mark Krenn and his team. Their strategic legal advice and expertise were invaluable, as always," said Petra Hemetsberger, Head of Asset Management at SES.


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