US asset management giant Blackstone is in advanced negotiations to sell a portfolio of six shopping centres across Italy with a target size of over €200 mln.
Blackstone has hired Lazard to manage the disposal which includes assets acquired in recent years from AXA Immoselect, Aberdeen’s Degi International, Sonae Sierra and Général Electric.
According to well-informed market sources, the US group has received two offers for the package and is currently in exclusive negotiations with one of the two bidders.
Blackstone didn’t wish to comment on the transaction.
The assets are believed to be the 19,000 m2 Parco Belvedere shopping centre in the Sicilian city of Siracusa and Le Colonne mall in Brindisi, also in Southern Italy, Il Borgogioioso shopping centre offering 11,000 m2 of retail space in Carpi, central Italy, the 16,000 m2 Airone near Padua, to the North-east of the country, as well as two malls in the Lazio region, the 16,000 m2 La Scaglia in Civitavecchia and the 12,000 m2 Primavera mall in Rome.
