Listed office-focused investor Beni Stabili Siiq has closed the acquisition of Il Ducale shopping centre in Vigevano, near the Italian city of Pavia. The investment volume of EUR 40 mln, including debt of EUR 12 mln, reflects a gross yield of 7%.

Milan-based Beni Stabili Siiq first signed a preliminary agreement on the asset in 2009. The property was initially acquired for Riqualificazione Grande Distribuzione (RGD), a 50/50 a recently liquidated joint venture between Beni Stabili and shopping centre investor IGD.

The scheme is located near an Ipercoop hypermarket and offers 60 shops on 16,000 m2 of gross leasable area.