Italian asset manager Kryalos has secured an €82 mln financing facility from lender Unicredit on behalf of its Urania retail property fund.
Urania owns six commercial galleries and a retail park located in Bari, Bologna, Ferrara, Taranto and Modena for a total of 57,000 m2 of space. The investor in the fund is Coop Alleanza 3.0.
The loan will be used to finance the operational and investment activities planned for the next few years.
‘In the retail sector we have developed truly distinctive expertise and skills that allow us to better manage this particular phase of the market and to have the confidence of the banking system,’ commented Paolo Bottelli, Chief Executive Officer of Kryalos SGR, which has roughly €10 bn in assets under management.
