16 November, CBRE
Cbre, a leading real estate consultancy company, assisted DeA Capital Real Estate sgr, an asset manager specialised in Italy in property funds, on behalf of the Delta Fund, in the sale of 105,205,000 euro for a portfolio consisting of 8 cinemas managed by The Space, a leading company in the sector.
The buyer is the alternative property fund newly incorporated called “Lumière”.
The eight multiplexes, very popular in their catchment areas, are located in some of the main Italian cities: Bologna, Livorno, Padua, Parma, Salerno, Turin, Treviso, and Vicenza. They generate a total turnover equal to 9.2 million euro per year. The portfolio registered a good performance in terms of box office, with earnings and income streams supported by a mature but growing sector.
This operation on a portfolio of cinemas reflects an excellent period for the Italian real estate, able to attract international institutional investors also with operating assets located throughout the country. This portfolio is just one example since there is great interest from such investors for all the alternative assets such as student housing, senior living, healthcare, data centres, and private rented schemes.
Translator: Cristina Ambrosi