TRIUVA, the pan-European real estate manager, has sourced a portfolio of nine Italian high street retail properties for €120 mln on behalf of a Dutch institutional client of CBRE Global Investment Partners.
TRIUVA structured the purchase from RES / Beni Stabili through a new fund established and managed by Savills Investment Management Italy.
TRIUVA will act as exclusive advisor to the fund. The Italian retail portfolio comprises high street properties in the historic city centres of Bologna, Padua, Vicenza, Cuneo, Pisa, Novara, La Spezia and Treviso. Several properties in these Northern Italian cities date back to the 19th century, of which three are listed by the Italian Cultural Heritage office.
All nine properties have been recently refurbished and are occupied by tenants which include high street fashion chains Zara and H&M, as well as the luxury group LVMH.