Italian property company Immobiliare Grande Distribuzione (IGD) has teamed up with Despar Italia Group's subsidiary GAM to set up a new venture that will invest in retail property across Italy. This 50/50 joint venture owns a EUR 70 mln shopping centre in Vibo Valentia, southern Italy. The mall, anchored by a 6,000 m[sup]2[/sup] Interspar hypermarket, comprises a 12,632 m[sup]2[/sup] retail gallery. IGD said that the gross yield of this acquisition is in line with the targeted 6.0-6.5% yield range.
Premium subscriber content – please log in to read more or take a free trial.
