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Deal News: Acquisition of prime high-street retail asset in Bologna, Italy

Deal News: Acquisition of prime high-street retail asset in Bologna, Italy

News
26 July 2018

Acquisition of prime high-street retail asset in Bologna, Italy

AXA Investment Managers - Real Assets has completed, on behalf of CNP Assurances, the acquisition of a prime high-street retail asset in the heart of the historical city centre of Bologna, Italy.

The recently refurbished property is comprised of two adjoining classical buildings with a total surface area of 2,300 sqm, spread over three floors. Each of the respective properties is fully let on a long lease contract to leading international retail brands.

The asset benefits from excellent visibility being centrally located in the heart of Bologna’s historical centre on Via Rizzoli, one of the city’s prime shopping streets, and opposite the Piazza Maggiore. Bologna has a well-established retail industry which dominates both the city and its metropolitan area, benefiting not only from an affluent local population of over a million residents but also from a daily inflow of tourists and workers, ensuring consistently high footfall.

This document is aimed solely at the media and is for information purposes only. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. They do not necessarily represent the views of any company within the AXA Investment Managers Group and may be subject to change without notice. This does not constitute a Financial Promotion as defined by the Financial Conduct Authority. This is for information purposes only. No financial decisions should be made on the basis of the information provided. Past performance is not necessarily representative of future results: performance is not constant over time and the value of investments may fall as well as rise.