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«NEINVER, leading European real estate company in development, investment and asset manageme, nt has recently acquired the Castel Guelfo Outlet City, a new addition to its "Irus European Retail Property Fund" portfolio, one of the main Pan-European funds specialized in outlets.
Castel Guelfo Outlet City is an outlet centre located in Castel Guelfo (Italy), 25 km from Bologna. Developed by ING Development, it currently has 13,000 m2 showcasing more than 50 top brand shops. It is developing a second phase to expand the complex to 25,000 m2 and double the number of establishments.
NEINVER has closed the deal for the acquisition for the first phase of the complex that is currently operating, for a total of 53 million Euros. Meanwhile, a deal has been closed for a purchase option for the second phase, once the second phase commercialization and inauguration process has been completed.
This operation fulfils NEINVER’s commitment to its investors to search for opportunities to acquire assets already operating and also to incorporate new assets into the NEINVER portfolio.
By the end of 2008 the fund will have a portfolio of 172,000 m2 of GLA in retail projects and foresees reaching a total investment of 1,400 million Euros in the next three years.
NEINVER is one of Europe’s leading real estate companies with 100% Spanish capital, with 39 years of experience on the national and international markets.
NEINVER's activity centres on the investment, management and development of a broad range of real estate products, like business and industrial parks. Furthermore, the company promotes, manages and commercializes large complexes that combine commercial and leisure parks and outlets.
NEINVER was the pioneer company in introducing the outlet concept into Spain and Poland under the FACTORY brand. Today it is the leader in outlet management in Spain and one of the main management companies for outlets in Europe.
Furthermore NEINVER manages the "Irus European Retail Property Fund", one of the largest private capital Pan-European Real Estate Funds managed by a Spanish firm.
The company is currently expanding internationally, exporting all its business lines to other European countries, offering comprehensive services to all its clients and facilitating global real estate solutions in every one of the countries where it operates. Today NEINVER is present in Spain, Italy, Poland and Portugal.» (CS della Società).
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