Italian listed property services firm Prelios has been mandated to establish a new fund which will develop the new Eataly high-end food destination in Bologna.
Italian listed property services firm Prelios has been mandated to establish a new fund which will develop the new Eataly high-end food destination in Bologna.
The vehicle, known as Fund Parchi Agroalimentari Italiani, is targeting an initial size of €100 mln, of which around €55 mln will be raised through the issue of fund units in exchange for the contribution of the area by CAAB, the Agriculture and Food Centre of Bologna.
The remaining €45 mln will be raised from investors and used to develop the 80,000 m2 site.
With a life term of 40 years, the fund will focus on the construction of the Fabbrica Italiana Contadina - Eataly World project, a theme park that aims to become an international reference point for the Italian agriculture, food and wine industries.
The park is due to be opened by the end of 2015, and is expected to attract over six million Italian and foreign visitors per year.
