CBRE Global Investors has said that the sale of a shopping centre in Sicily completes the disposal strategy for its Southern European retail fund, CBRE Retail Property Partnership Southern Europe (RPPSE).
Opened in 2005, the asset, known as 'I Papiri', is located in Siracusa, visible from Ortigia, 5 minutes drive from the city centre. The shopping centre has two floors as well as a hypermarket. In all, the centre comprises 50 units over 25,000 m2 gross lettable area.
The transaction involved the sale of Galleria Commerciale Siracusa, the conpany that owns I Papiri. The investment volume was not disclosed.
The buyer is CDS Holding, an Italian company active since 1993 in development, design and construction, and as general contractor, of retail, logistics assets and hotels.
Enzo Danesi, chairman of CDS Holding 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's time; the next opening of Aura, next April 20, in the centre of Rome (in front of the Valle Aurelia underground station), we are committed to the real estate and commercial relaunch of this centre, which counts several strategic strengths to become the reference shopping center for Siracusa and its province.'
