French boutique Tikehau IM has closed its first real estate deal in Italy by acquiring an Italian shopping mall from CBRE Global Investors for €87.1m.
The asset is located in Reggio Emilia in the north of Italy. The shopping mall, which was opened in 2007, tallies four million visitors a year and its occupation rate reaches 99%.
It has been acquired for the Tikehau Italian Retail Fund I.
With this new addition, Tikehau IM manages €700m in real estate assets.
Mathieu Chabran, CEO of Tikehau IM, underlined this first Italian investment was closed six months after the opening of Tikehau’s office in Italy led by Luca Bucelli and said further developments are expected in this market.
Tikehau Capital, owner of Tikehau IM, manages over €7.4bn in assets for private and institutional investors.