International financial services group GWM is poised to acquire the Market Central Da Vinci retail park near Rome, according to well-informed market sources.
International financial services group GWM is poised to acquire the Market Central Da Vinci retail park near Rome, according to well-informed market sources.
PropertyEU understands that GWM is in exclusive negotiations to buy the 58,000 m2 asset from developer AIG Lincoln for over €120 mln.
This is the owner's second attempt to sell the retail scheme. In 2008, AIG Lincoln put the asset on the market through Cushman & Wakefield but talks with the potential buyer, private equity firm Orion Capital Partners, fell through in 2010 and the scheme was subsequently withdrawn from the market.
Delivered in 2007, the Market Central Da Vinci is the largest retail park serving Rome and the greater Lazio area. The scheme is located near Rome's international Fiumicino airport and comprises 62 units.
GWM declined to comment. AIG Lincoln did not respond to an email request for comment.
GWM has recently been active in Italy with the purchase of a €220 mln logistics portfolio let to Telecom Italia on a long-term basis. The vendor of the 100% equity interest in the assets is Danish property group Europaeiske Ejendomme Holding.
The acquisition was completed in February this year in the context of a restructuring of the original financing of the Clarice fund owning the assets. The portfolio comprised 62,000 m2 of logistics space largely located in the cities of Milan and Rome, which make up around 43% of the properties.
