IGD SiiQ

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Our real estate portfolio

Market value of the IGD Group’s real estate portfolio

portfolio evolution 31122016

 

IGD scored in a few years, between 2006 and 2011, a significant increase in the fair value of its real estate portfolio: this is the result of the making of an intensive investment program, together with the results of careful commercial and real estate management, aimed to increa the value of assets over time. Most recently the investments were focused on the committed pipeline which resulted in a stabilization of the portfolio’s market value between 1.85 and 1.95 € billion.

Thanks to new placements in the Group's perimeter made during 2015, the market value of IGD's real estate portfolio has clearly exceeded the threshold of € 2 billion.

IGD's portfolio is evaluated twice a year at 30 June and 31 December. Currently the appraisals are divided into four independent appraisers: CB Richard Ellis, REAG Advisory, Cushman & Wakefield and Jones Lang LaSalle.

 

More recent changes in the portfolio

On 24 October 2014 IGD completed the acquisition of a core portfolio of shopping centers, totally estimated € 92.67 million, consisting of a shopping center, two supermarkets and two hypermarkets.

In 2015 the Clodì retail park in Chioggia, opened on 14 May 2015, entered in IGD's portfolio; the total investment for this asset was 36.7 million €. On 27 May the city center Rizzoli, in the historic heart of Bologna, was sold to UBS Real Estate for € 29.4 million. On 16 December 2015, finally, was completed the acquisition for € 124.5 million, of Puntadiferro shopping center in Forlì, made up of 97 shops.

In October the new shopping center Maremà in Grosseto opened. The mall inside the center is comprised of 44 shops and 7 internal midsized stores which cover a gross leasable area (GLA) of more than 17,000 m² (inside the center there is also a hypermarket which is not owned by the Group). The shopping center has been acquired by IGD in December and the investment was equal to about € 46.6 million.

 

 

portfolio-breakdown-31122016
   

 

At 31 December 2016 IGD’s properties include:

in Italy

  • 22 shopping malls and retail parks,
  • 25 hypermarkets and supermarkets,
  • 1 "city center" asset: the commercial area in Piazza Mazzini in Livorno
  • 2 plots of land for development projects (extension of  center ESP in Ravenna and extension of center Porto Grande in Ascoli Piceno),
  • 1 asset held for trading (Porta Medicea project in Livorno),
  • 5 other properties, between which the building of IGD's headquarters in Bologna;

 in Romania

  • 14 shopping centers,
  • 1 office building.
 

 
 
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