Milan, 05 June 2013 – Olinda Fondo Shops, real estate mutual fund managed by Prelios SGR and listed with Borsa Italiana since 2004, opens tomorrow, 6 June, Grotte Center, the shopping center in the Municipality of Camerano (Ancona province), located in a high density retail area.
Directly connected to Carrefour supermarket, the center covers a total surface area of over 18,000 sq m and incudes over 40 stores, some medium surfaces and an external area of 4,000 sq m, a large food & beverage area, a gym, a skating rink and a car park with 1,500 car parking spaces.
The tenant mix is significant as it includes some of the leading international apparel and sports brands, that were not present in the catchment area: Decathlon, H&M, Bata, Motivi, Terranova, Carpisa, Solaris Sport, Original Marines and Yamamay.
Grotte Center (www.grottecenter.com) takes its name from the “Camerano Caves” which are located nearby and are the symbol of the city, which also inspired the architectural structure. The retail center construction project is in line with the Olinda fund strategy to hold premium quality assets with high commercial potential with a view of asset value increase in the short term.
Prelios Integra & has coordinated the construction works and will be the Center operator; the marketing and sale activity regarding the stores has been entrusted to Jones Lang LaSalle.
Prelios SGR is one of the leading real estate fund management companies in Italy. Its assets under management reach a value of about 4.3 billion euro (at 31 December 2012), with currently over 20 funds. Approximately 35% of funds investors are financial institutions, nearly 25% are corporate clients and the residual part includes foundations and pension funds, insurance companies, public entities and retail unitholders. Prelios SGR manages about 1,250 properties, primarily located in Milan and in the province of Milan (23%), in Rome and in the province of Rome (22%) and in Turin (10%). The asset classes most representative of its properties under management are offices (41%), telephone exchanges (25%), retail (20%), retail & entertainment (18%), industrial and logistics (6%) and residential (about 5%) properties.