Italian real estate group IGD has announced the sale of its Winmarkt Someș shopping center in Cluj-Napoca to a private Romanian investor for €8.3 million.
The transaction marks the first disposal under the group’s plan to reduce the company's financial leverage and focus on the Italian market.
Winmarkt Someș has a leasable area close to 7,900 sqm and counts Carrefour, DM, Pepco, and Dr. Max among its key tenants. The sale price is in line with the book value of the asset.
Roberto Zoia, CEO of IGD, said: "IGD will continue with determination in the implementation of the disposal program envisaged by the business plan, which aims to strengthen its equity and financial structure and to maintain a decisive focus on the Italian market."
CBRE acted as exclusive real estate consultant to IGD on the sale, while Dentons provided legal advice.
Laura Dumea Bencze, Director of Investment Properties at CBRE Romania, added: "The sale to a Romanian investor is in line with the general dynamics of the market, given that in recent years Romanian operators have been very active having carried out around 25% of the total real estate transactions.
The transaction is expected to be completed in the coming weeks.
IGD's portfolio, valued at over €1.7 billion in mid-2024, includes several shopping centers located in 13 Romanian cities
