News Article Hungary Indotek investment Italy retail
by Property Forum | Investment

The group entered the market with the acquisition of Le Masserie shopping centre in southern Sicily and a portfolio of 13 supermarkets, located mainly in Northern Italy. 

The 13 medium-sized stand-alone supermarkets were sold by Reale Immobili S.p.A. The supermarkets, which form a 40,000 sqm portfolio, are located mainly in densely populated tertiary cities in the north of Italy and most of the properties are leased to the international supermarket chain Carrefour. The portfolio also includes two vacant assets that Indotek Group intends to lease following the completion of renovation works.

In the second acquisition, the company purchased Le Masserie, an 18,000 sqm shopping center with 60 retail units, from a group of private investors. Previously managed by Stoneweg, it is operating at close to 100% occupancy with tenants such as Zara, Coop, and Unieuro. The performance of the shopping center in 2021, following the easing or lifting of restrictions due to the coronavirus pandemic, is close to the record level of 2019. 

Indotek Group has significant experience in the shopping center and commercial real estate development, owning more than 30 malls in Hungary.