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retail-shopping-centers Assets News: Spanish Real Estate Intelligence

Kryalos sold Primavera shopping centre in Rome
01 July, Bebeez Kryalos announced the sale of Primavera shopping centre in Rome to a group operating in mass retailing. The exit yield of the transaction amounts to approximately 6%. The asset is located 7 km south-east from Rome, and it develops over two levels above ground plus two levels of underground parking. Covering a total surface of 11,980 Sq m, the shopping centre offers a 2,563 Sq m supermarket, 36 small-sized shops and 3 medium-sized stores. Source: Bebeez Translator: Cristina Ambrosi
 
Nuveen Real Estate: three possible post-pandemic scenarios
09 June, Milano Finanza Covid-19 had a massive impact on the real estate market. In Italy, residential transactions declined by 15.5%, resulting in 4,000 transactions less in comparison with the same period of last year. Nuveen Real Estate estimates that the most impacted sectors in Europe will be offices and retail. Hopefully, the introduction of a European debt fund might mitigate the consequences of the pandemic. Nuveen presents three possible scenarios regarding the aftermath of Covid-19. The first one supposes a quick shock resulting in the increase of debt and modest growth of yields. In case of an extension of the lockdown up to the third quarter, the market will recover only in 2021. Finally, in the worst-case scenario, the decline in the demand and business activities, which go beyond the pandemic, might cause great financial instability, resulting in a recession lasting up to 2022. Source: Milano Finanza Translator: Cristina Ambrosi
 
Milan: the works for Milanord2 have restarted in Cinisello Balsamo
12 May, Urbanfile The construction works for the Milanord2 shopping centre in Cinisello Balsamo have restarted after having put on hold due to the coronavirus emergency. The investor is Galleria Cinisello S.r.l., a joint venture between Gruppo LSGI Italia and Ceetrus. The shopping centre will offer 100,000 Sq m of retail area, 10,000 Sq m for food&beverage, 20,000 for indoor leisure and 41,000 Sq m for outdoor leisure, namely the Sky Plaza, which will be the highlight of Milanord2. Source: Urbanfile Translator: Cristina Ambrosi