Italian fund management firm Castello Sgr has bought a portfolio of 10 Coop supermarkets for close to EUR 50 mln, reflecting a yield of around 7%. The vendor was retailer Unicoop Tirreno.
Italian fund management firm Castello Sgr has bought a portfolio of 10 Coop supermarkets for close to EUR 50 mln, reflecting a yield of around 7%. The vendor was retailer Unicoop Tirreno.
The portfolio, which was acquired for Castello's closed-end Augusto fund, involves some 16,000 m2 of retail space in the Tuscany and Lazio regions of Italy. Supermarket chain Coop is leasing back the assets, generating an annual rent of EUR 3.4 mln.
