Vouth African retail real estate investor Vukile Property Fund has entered the Italian market with the acquisition of three shopping centers for €115 million, establishing Esperia Properties as its new investment platform for future growth in the country.
The portfolio comprises Le Due Valli in Turin, Le Centurie in Padua and Quarto Nuovo in Naples. Vukile said it is already pursuing further acquisitions in Italy as part of a long-term expansion strategy.
The move follows Vukile’s successful expansion into Spain and Portugal through its subsidiary Castellana Properties. With Italy, the company is extending its Southern European retail real estate platform into a third market, supported by local asset manager Pradera.
Vukile cited attractive market fundamentals, limited shopping center supply and relatively low e-commerce penetration among the factors supporting its investment strategy.
(dp)
