Warburg-HIH Invest Sells Retail Property in Bologna
TH Real Estate, on behalf of Warburg-HIH Invest Real Estate (Warburg-HIH Invest), just sold a retail property with a gross lettable area of 5,860 sq m in the Italian city of Bologna on behalf of its “Pan-Europa Fonds Nr. 3” investment fund.
The sale was brokered by TH Real Estate. The Gran Reno Retail Park was raised in 2005 and is currently fully occupied. It was bought by the Italian furniture chain Happy Casa, one of whose branches resides on the premises. It was agreed not to disclose the purchase price.
“The acquisition of the property by an incumbent tenant delivered a robust capital gain at a time of an otherwise rather sluggish transaction dynamic at this site. The decisive criterion for the buyer is the outstanding location in a strategically significant hot spot for the home furnishing retail business in the region,” said Andreas Schultz, Managing Director at Warburg-HIH Invest.
On May 22, 2019 Unibail-Rodamco-Westfield (URW) laid the foundation stone of the Westfield Hamburg, located in Überseequartier, one of the major mixed-use districts in Europe, and Hamburg’s largest development project.