A new is born in Italy real estate investment fund reserved for qualified investors. It was established by Morgan Stanley Sgr, the Italian property management company of the Morgan Stanley group. The portfolio will have a value of around 635 million euros, including 13 shopping centers and two retail parks, for a total area of around 200 square metres.
The majority of the shares were subscribed by an investment fund managed by the Morgan Stanley group while Immochan (Auchan group), through its subsidiaries Gallerie Commerciali Italia and Gallerie Giugliano, holds minority shares.
The properties in the portfolio are located in Turin, Cuneo, Mazzano, Vicenza, Padua, Ancona, Senigallia, Porto S. Elpidio, Grottammare, Pescara, Cepagatti, Giugliano and Catania.
