Barings sells retail park near Treviso, Italy, to Austrian buyer
Barings, one of the world’s largest diversified real estate investment managers, has sold the Parco Fiore Retail Park near Treviso, Italy, to an Austrian institutional investor.
Built in two phases and delivered in 2017 and 2019, the 27,000 sqm retail park comprises of 14 retail and food units, fully let to a high quality tenant mix, including leading international brands such as MediaWorld, and Decathlon, as well as being anchored by the leading Italian grocery retailer Mega.
The asset has been built to a high ESG standard, with a BREEAM Green Building Certification in place, along with photovoltaic panels on the roof.
The asset is prominently located in north east Italy alongside the busy SS 13 Pontebbana linking Treviso and Conegliano to Pordenone and Udine, one of the wealthiest areas in Italy.
Gunther Deutsch, Managing Director, Head of Real Estate Transactions – Europe at Barings, added: “This sale is our second realisation in Italy in recent months, following the disposal of the Corso di Porta Vigentina 9 office building in Milan in May. We continue to look for further opportunities to recycle capital into core, core plus and value-add strategies across Europe, with a focus on our strong conviction asset classes: offices, logistics and the “everything with beds” sector, including Build to Rent, student housing and micro/serviced living. This is with a particular focus in the Nordics, the Netherlands, Germany, the UK, Italy, France and Spain.”