French listed retail specialist Klépierre has reportedly acquired the Roma Est shopping centre in Rome from Singapore's sovereign wealth fund GIC for a price between €220 and €230 mln.
According to a news report by Italian paper IlSole24Ore, the asset was put on the market through advisor Eastdil Secured.
GIC has long been trying to sell the mall which it initially bought together with CBRE Global Investors (at the time ING REIM) in 2007. The sovereign wealth fund took full control of the asset in 2014 by acquiring CBRE GI's 50% stake for €200 mln and first tried to sell the nearly 100,000 m2 asset four years later for a price of €400 mln.
Roma Est comprises 92,700 m2 of gross lettable area spread over 208 retail units, a hypermarket, 23 bars and restaurants and a 12-screen cinema.
The mall is arranged over two above-ground levels and has 10 large-area stores of over 1,000 m2 and nine mid-sized units between 500-1,000 m2. It is also served by a three-level car park with 6,000 spaces.
