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GIC takes full ownership of Italian mall

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Kalpana Rashiwala

Kalpana Rashiwala

Published Mon, Oct 6, 2014 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    GIC is acquiring the remaining half of the RomaEst Shopping Centre in Italy to gain full ownership of the mall, which is located in Lunghezza, about 14 km east of Rome's city centre.

    Singapore's sovereign wealth fund bought the half stake from a fund managed by CBRE Global Investors, formerly known as ING Real Estate.

    "Following the purchase, GIC, which already owns 50 per cent of RomaEst through an affiliate, will be the sole owner. . . CBRE Global Investors continues to be the asset manager for the centre," GIC and CBRE Global Investors said in a joint statement on Monday.

    GICCBRE

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