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Allianz AG - Porta di Roma Shopping Centre, Rome

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The Challenge

Porta di Roma is located in Rome, around 9 km from the city centre and near exit 10 of theRome Orbital Road. Opened in July 2007, it attracts over 16 million visitors a year to its 237 shops, hypermarket and multi-screen cinema and provides parking for 7000 vehicles. The mall totals 795,000 sq ft within a total retail and leisure offering of over 1.4m sq ft.

In the beginning of 2010 Allianz AG decided to increase their global real estate allocation. The initial focus was on prime retail assets in the Eurozone. C&W screened a number of assets and presented the possibility to acquire one of the largest and best performing Italian malls: Porta di Roma.

The Solution

The Seller was a joint venture between two local developers, Auchan and Simon Property Group. By leveraging strong local and global contacts with the joint venture parties C&W were able to introduce the deal to Allianz, secure exclusivity and advise the client through the entire acquisition process. The Capital Markets Group, Research and Retail Leasing Team worked together to provide full support to the client in every step of the transaction.

As the transaction progressed, C&W introduced the European Shopping Center specialist, Corio NV, to Allianz to undertake the role of “operating” partner.

The Results

Allianz Real Estate, in a joint venture with Corio NV, purchased the Shopping Centre for around € 440 million. This was the largest Real Estate transaction in 2010 in Italy and one of the most important single asset transactions in Europe.