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News 2017-04-25T11:49:06+00:00

FORUMINVEST ITALIA SELLS SHOPPING CENTER GRAN SASSO (ITALY) TO ORION

On March 14 Foruminvest Italia sold its 100% stake in shopping center “Gran Sasso”, Teramo (situated 175 km to the Adriatic coast northeast of Rome) to Orion European Real Estate Fund IV, a pan-European fund sponsored by Orion Capital Managers. The shopping center developed by Foruminvest Italia, opened in November 2007 and has since been owned by Foruminvest. The center consists of 30,000 m2 GLA retail space and is fully let to, amongst others, Conad (hypermarket), H&M, Media Markt (World), Bershka, Pull & Bear, Oviesse (OVS) Cisalfa (Intersport), Maison du Monde, Bricofer, Casa, Terranova and United Colors of Benetton and 1,850 parking spaces. In 2016 Gran Sasso had approximately 3.5 million visitors (+8% since 2014). The turnover of the center has increased by 17% since 2014, which is a positive trend after the economic recession. Foruminvest will continue to manage the mall for Orion. David Ermia (CEO of the Foruminvest Group) noted that they are very satisfied with this transaction and want to continue their relationship with Orion also on future projects. Orion was advised by Dentons and Studio Bellavite Pellegrini, while Jones Day advised Foruminvest.

FORUMINVEST AND CITY MALL OPENED EXTENSION LES GRANDS PRÉS (Mons – Belgium)

Les Grands Prés shopping center in Mons (Mons) has been expanded by Foruminvest, in cooperation with City Mall, to 16,000 m2. Including the new IKEA one of the largest retail sites in the Benelux with 109 stores and a total area of over 100,000 m2 has been created. The new IKEA of approximately 35,000 m2 opened earlier this year its doors. Now the 22 new stores in late August are opened, it is expected an increase in footfall from 5.5 million last year to 8 million this year. Among the new stores, there are many famous brands such as H & M, Celio, Superdry, IKKS, Flying Tiger, Intersport and Desigual. “Since Foruminvest opened Les Grands Prés in 2003 the site’s surface now almost tripled. Anno 2016, the entire complex has about 101,000 square meters of shopping. This is in terms of retail space, the biggest player in the Benelux “, says managing director Axel Ceusters from property manager SCMS Ceusters. Both the existing center as the extension are an investment of Union Investment Real Estate.