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Tikehau invests in Italian shopping mall

Tikehau Capital has made an investment in Turin, Italy-based Area12, a shopping mall along with several unnamed Italian and international institutional investors. The overall price of the acquisition was 65 million euros. JLL, Studio Legale Gatti Pavesi Bianchi and Studio Tributario Iavagnilio served as advisers to Tikehau on the deal.


MILAN–(BUSINESS WIRE)–Regulatory News:

Tikehau Capital continues to invest in the Italian market with a new significant real estate transaction.

Tikehau Capital (Paris:TKO) today announced the acquisition of “Area12” a shopping centre in Turin owned by the consortium San Sisto which is controlled by majority shareholder Nordiconad, alongside shareholders CMB and Unieco. Nordiconad remains the owners of the hypermarket area of the Shopping Centre and will collaborate with Tikehau Capital to further develop the Centre.

Tikehau Capital acted as the Lead Investor of this c. €65 million acquisition alongside major Italian and international institutional investors.

Opened in October 2011, “Area12” Shopping Centre is integrated to an over 30,000m2 complex within the Juventus Stadium. Managed by CBRE with an annual average of 4.5 million visitors, it hosts a 60 stores commercial gallery representing major national and international brands – as well as a CONAD’s hypermarket and a food-court area.

Tikehau Capital real estate portfolio amounts 1.8 billion euros over the total portfolio of more than 10 billion euros AUM. The investment in “Area12” Gallery represents the second real estate retail transaction in Italy, after the acquisition in 2016 of “I Petali” Shopping Centre in the Mapei Stadium in Reggio Emilia.

Nordiconad Soc. Coop, one of the leading cooperatives of Conad Group, operates in Emilia Romagna, Piedmont, Liguria and Valle d’Aosta with a turnover of over one billion euros. It counts around 200 members with a network of 250 stores – in various distribution channels – and over 5,000 employees, and reports annual network net sales of 1.6 billion euros.

Advisors for Tikehau Capital in this transaction: JLL, Studio Legale Gatti Pavesi Bianchi and Studio Tributario Iavagnilio

Advisors for San Sisto: CBRE, Chiomenti Studio Legale and Studio Fantozzi

About Tikehau Capital
Tikehau Capital is an asset management and investment group which manages €10.3bn of assets, with shareholders’ equity of €1.5bn. The Group invests in various asset classes (private debt, real-estate, private equity and liquid strategies), including through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs 170 staff in its Paris, London, Brussels, Madrid, Milan, Seoul and Singapore offices.

Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)