Italian listed property group Beni Stabili is seeking a buyer for a portfolio of five shopping centres valued at over €200 mln.
According to well-informed market sources the company has hired Lazard to manage the sale process which it encompasses 142,500 m2 of gross space across Italy.
The disposal, which has just been launched, is expected to appeal to opportunistic investors such as TPG, Tristan, Orion, Pradera and Partners Group, according to those who track the market.
The properties include a 26,500 m2 mall located in Montenero di Bisaccia, southern Italy, (value of €29 mln per year-end 2016), a 34,500 m2 asset in Nerviano near Milan (value of €53.5 mln), as well as a shopping centre in Ferrara owned jointly with retail specialist IGD Siiq and valued at €34 mln, and two assets owned through Beni Stabili’s RGD Gestioni subsidiary, the 19,000 m2 Il Ducale property in Vigevano, Pavia valued at €50 mln, and the €50 Le Fornaci mln mall in Beinasco offering 21,500 m2 of space near Turin.
The deal is part of Beni Stabili and its owner Foncière des Régions’ strategy to focus on its core markets, namely offices in France and Italy, hotels in Europe and residential in Germany.
'The sale of our retail portfolio is totally in line with the strategy communicated to the market,' a Beni Stabili spokesperson told PropertyEU.
Earlier this year the company also sold a portfolio of nine high street retail assets for €120 mln to a client of CBRE GIP as well as a high street building at Via Verri in Milan to Amundi for €92 mln. The property in Milan was owned together with Gruppo Statuto.
