Corio will acquire 50% of Porta di Roma shopping centre in Rome, Italy
(Thomson Reuters ONE) -
Corio has signed the Preliminary Agreement for the acquisition of the companies
that own 50% of the shares in the greater portion of Porta di Roma shopping
centre (hereafter: Porta di Roma) for about ? 220 million (excluding acquisition
cost) at a Net Initial Yield of 6.4%. The project will be 50/50% owned by
Allianz and Corio through a joint venture structure. The total shopping centre
comprises 97,000 m² GLA and 7,200 parking units, the joint venture will be owner
of 73,500 m² GLA, the remainder is owned by Auchan. This acquisition has a
steady cash flow and will fit in with Corio's strategy. It is dominant in its
catchment area, the site benefits from good visibility and accessibility from
the external ring road. IKEA and Leroy Merlin are part of the commercial
complex. The acquisition is subject to approval of the EU antitrust authority.
It will contribute to Corio's direct result as of 1 May 2010.
[HUG#1410945]
Press release: http://hugin.info/134201/R/1410945/363289.pdf
Unternehmensinformation / Kurzprofil:
Datum: 03.05.2010 - 07:01 Uhr
Sprache: Deutsch
News-ID 20109
Anzahl Zeichen: 0
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Utrecht
Kategorie:
Business News
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"Corio will acquire 50% of Porta di Roma shopping centre in Rome, Italy"
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