Generali Real Estate and Gruppo Percassi have completed the acquisition, through a real estate fund established and managed by Generali Real Estate SGR, of the Oriocenter shopping centre from Commerz Real. 

The fund that acquired Oriocenter is owned 50% by Gruppo Percassi and 50% by a Luxemburg-based pan-European fund specialising in dominant shopping centres, managed by Generali Real Estate SGR as investment manager. The total value of the transaction is approximately €470 million. 

Percassi Group has been the property manager of the shopping centre since its inauguration in 1998 and will continue in this role. Generali Real Estate will act as asset manager for the shopping centre. 

Located on the outskirts of Bergamo and connected to Orio al Serio International Airport, Oriocenter is Italy’s largest shopping centre in terms of surface area and range of offerings, as well as one of the largest in Europe. Its success led to an initial expansion in 2004, increasing the centre’s surface area to 75,000 square metres and the total number of shops to 200. Today, Oriocenter spans 105,000 square metres and hosts 300 shops, including 57 restaurants, 2 food courts, 14 cinemas, a hypermarket and over 7,000 parking spaces.

You can now read the press release at the link below