Italy's Immobiliare Grande Distribuzione (IGD) has signed a contract to sell the extension of the Leonardo shopping centre in Imola to the Netherlands-based Eurocommercial Properties (ECP) for EUR 43.03 mln. The extension was built on a piece of property held by IGD, a listed player in the real estate distribution sector. Although the transaction did not fit into the company's typical corporate strategy, IGD's ceo Filippo Carbonari said the deal emphasised the company's 'ability to optimize investments and generate maximum returns'. As of June 2005, the value of IGD's real estate assets consisted of nine shopping malls, 13 hypermarkets, one superstore and three development plots with a total value of EUR 749.3 mln. The company also runs 13 third-party shopping malls.
Italy's Immobiliare Grande Distribuzione (IGD) has signed a contract to sell the extension of the Leonardo shopping centre in Imola to the Netherlands-based Eurocommercial Properties (ECP) for EUR 43.03 mln. The extension was built on a piece of property held by IGD, a listed player in the real estate distribution sector. Although the transaction did not fit into the company's typical corporate strategy, IGD's ceo Filippo Carbonari said the deal emphasised the company's 'ability to optimize investments and generate maximum returns'. As of June 2005, the value of IGD's real estate assets consisted of nine shopping malls, 13 hypermarkets, one superstore and three development plots with a total value of EUR 749.3 mln. The company also runs 13 third-party shopping malls.
