Portuguese shopping centre group Sonae Sierra has mandated Jones Lang LaSalle to market its Gli Orsi shopping centre in Biella, Northern Italy, starting from January. The scheme, which represents an investment for Sonae Sierra of roughly EUR 102 mln, consists of 41,000 m[sup]2[/sup] of retail space across 100 shops and 19 restaurants and coffee shops.
Portuguese shopping centre group Sonae Sierra has mandated Jones Lang LaSalle to market its Gli Orsi shopping centre in Biella, Northern Italy, starting from January. The scheme, which represents an investment for Sonae Sierra of roughly EUR 102 mln, consists of 41,000 m2 of retail space across 100 shops and 19 restaurants and coffee shops.
Gli Orsi, which opened to the public in the autumn of 2008, is anchored by a 13,700 m2 Ipercoop hypermarket and offers 3,300 parking spaces. The company said the decision is in line with its strategy to 'recycle capital by allowing investors to enter into their shopping centres while retaining a stake and the management of the scheme'.
'This assures the potential investor that they will have access not only to an excellent property but that they will have a partner specialized in this sector with all the skills to continue to actively manage the asset in order to increase its value in the long-term,' the company said.