Fondi Immobiliari Italiani (Fimit) is acquiring Europe's largest holiday resort complex - the Forte Village - near Cagliari, Italy. The financial details of the transaction have not been disclosed but market sources said the centre is worth EUR 300 mln. Reached for comment by PropertyEU, Fimit said it would reveal more details about the deal 'as soon as possible'.
Fondi Immobiliari Italiani (Fimit) is acquiring Europe's largest holiday resort complex - the Forte Village - near Cagliari, Italy. The financial details of the transaction have not been disclosed but market sources said the centre is worth EUR 300 mln. Reached for comment by PropertyEU, Fimit said it would reveal more details about the deal 'as soon as possible'.
The property has been acquired from the global investment bank Lehman Brothers for Fimit's retail fund Delta. Italian private group Marcegaglia has been appointed to manage the complex, which involves an investment of about EUR 100 mln.
Built in the 1970s by UK's Trusthouse Forte, the complex is located on a 26-hectare site and includes seven luxury hotels with a total of 800 rooms, 20 suites, a shopping centre, 21 restaurants, and a 3,000 m2 conference centre. An average of 250,000 tourists visits the centre every year, providing revenues of EUR 60-70 mln per annum.
