Tikehau IM has acquired the I Petali di Reggio shopping centre located in Reggio Emilia, northern Italy, from CBRE Global Investors.
The centre, opened in 2007, sees approximately 4 million visitors per year and is 99% occupied by 59 tenants. This includes both national and international retail brands.
I Petali was acquired for approximately €87m by the Tikehau Italian Retail Fund I, a fund created and managed by Tikehau IM. Investors include Tikehau Capital Partners alongside first tier institutional investors and high net worth individuals. Legance and CBRE assisted Tikehau during the acquisition, with financing fo the transaction provided by Crédit Agricole CIB (Milan branch).
This is the first Italian deal closed by Tikehau IM’s Real Estate platform. Tikehau IM’s real estate portfolio under management now consists of approximately €700m in assets.
Mathieu Chabran, CIO, Tikehau IM, said: "This first investment in Italy, closed within six months of opening our Italian office, reflects the quality of our local network which has been developed by Luca Bucelli and his team. As a group, we intend to continue our development in Italy based on the dynamism of the market."
