Italy's IGD SIIQ said on Friday that it has acquired a commercial gallery in Cesena, Northern Italy, from retailer Coop Adriatica SCARL. The transaction price amounts to a total of EUR 18 mln, including equity of EUR 6 mln and debt of EUR 12 mln. The acquisition is part of an agreement signed in 2005 with Coop, the company said. The property consists of 21 shops with a total retail surface of 10,800 m[sup]2[/sup].
Italy's IGD SIIQ said on Friday that it has acquired a commercial gallery in Cesena, Northern Italy, from retailer Coop Adriatica SCARL. The transaction price amounts to a total of EUR 18 mln, including equity of EUR 6 mln and debt of EUR 12 mln. The acquisition is part of an agreement signed in 2005 with Coop, the company said. The property consists of 21 shops with a total retail surface of 10,800 m2.
IGD Immobiliare Grande Distribuzione SIIQ is a commercial real estate developer and investors active in Italy and Romania. The company was the first to convert to real estate investment trust status in 2008 after Italy introduced legislation facilitating the launch of the tax transparent listed structures. IGD has a portfolio consisting of 10 retail galleries, 14 hypermarkets, 4 land plots and 15 retail galleries in Romania for a total value of EUR 1.3 bn.
