Altarea Cogedim has sold four shopping centers to Episo 3, a fund managed by Tristan Capital Partners, for €122 million.
The four objects are Le Due Valli and La Cittadella in the Piedmont region, Casetta Mattei in Rome, and Ibleo in Sicily. Pradera will act as the asset manager for the portfolio. Altarea Cogedim was advised by Giovanardi e Associati and Tremonti Vitali Romagnoli Piccardi e Associati. Tristan Capital Partners was advised by Osborne Clarke and Pirola Pennuto Zei & Associati.
“Altarea Cogedim is continuing its portfolio reallocation strategy with the disposal of small-format shopping centers to focus on setting up the development of premium assets. In Italy, our investments are therefore now concentrated in the Lombardy region (Le Due Torri and La Corte Lombarda) and we’re currently working on new opportunities in which our team is already deeply involved,” stated Alain Taravella, Chairman and Founder of Altarea Cogedim.
Just as the Covid-19 pandemic blurred the lines between office and home in 2020, the office of the future will need to combine elements of work, life, and experience in order to be competitive in post-pandemic city center locations, writes Nicole Pötsch, Head of Acquisitions & Sales for North & Central Europe at Allianz Real Estate.
Business closures and rent losses in the coronavirus crisis have made banks even more cautious about retail properties and shopping centers. In the case of refinancing, portfolio holders have to calculate with higher interest rates and additional equity.