Milan
CBRE Global Investors announces the sale of Galleria Commerciale Siracusa S.R.L. owner of a shopping centre in Siracusa, Sicily
16 Mar 2018
CBRE Global Investors has sold the company Galleria Commerciale Siracusa S.R.L in Sicily and in doing so completed the disposal strategy for its Southern European retail fund CBRE Retail Property Partnership Southern Europe (RPPSE).
The shopping centre comprises a GLA of ca. 25,000 sqm and 50 units. The buyer of the company is CDS Holding S.p.A., a company operating since 1993 in the development, design and construction, as general contractor, of retail, logistics assets and hotels.
Opened in 2005, the asset, known as “I Papiri” is located in Siracusa, visible from Ortigia, 5 minutes drive from the city center. The shopping centre has two floors as well as a hypermarket.
Enzo Danesi, Chairman of CDS Holding S.p.A. said: ""CDS started a new phase of strategic growth: after the opening last year of Adigeo in Verona, estimated to reach 8 million visitors in one year time; the next opening of Aura, next April 20, in the center of Rome (in front of the Valle Aurelia underground station), we are committed to the real estate and commercial relaunch of this center, which counts several strategic strengths to become the reference shopping center for Siracusa and its province.”
He continued: “We will heavily invest in an internal and external architectural refurbishment and we will work on an important expansion, bringing in the best of the national and international commercial offer. In the meantime, we continue to work on a relevant development pipeline for the next few years, maintaining our leadership in the retail sector and also consolidating our attention to the logistics and hotel sectors.”
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $103.2 billion in assets under management* as of December 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2017 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
The shopping centre comprises a GLA of ca. 25,000 sqm and 50 units. The buyer of the company is CDS Holding S.p.A., a company operating since 1993 in the development, design and construction, as general contractor, of retail, logistics assets and hotels.
Opened in 2005, the asset, known as “I Papiri” is located in Siracusa, visible from Ortigia, 5 minutes drive from the city center. The shopping centre has two floors as well as a hypermarket.
Enzo Danesi, Chairman of CDS Holding S.p.A. said: ""CDS started a new phase of strategic growth: after the opening last year of Adigeo in Verona, estimated to reach 8 million visitors in one year time; the next opening of Aura, next April 20, in the center of Rome (in front of the Valle Aurelia underground station), we are committed to the real estate and commercial relaunch of this center, which counts several strategic strengths to become the reference shopping center for Siracusa and its province.”
He continued: “We will heavily invest in an internal and external architectural refurbishment and we will work on an important expansion, bringing in the best of the national and international commercial offer. In the meantime, we continue to work on a relevant development pipeline for the next few years, maintaining our leadership in the retail sector and also consolidating our attention to the logistics and hotel sectors.”
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $103.2 billion in assets under management* as of December 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2017 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.