Bologna-based real estate investment trust IGD Siiq has acquired Le Maioliche shopping centre in the northern Italian city of Faenza. The vendor was Italian retail group Coop Adriatica.

Opened in June 2009, Le Maioliche is valued at nearly EUR 82 mln and covers 32,000 m2 of total gross lettable area. The scheme consists of a 9,300 m2 Ipercoop hypermarket as well as a shopping mall with 41 shops. Major tenants include retailer C&A, which is inaugurating its first store in Italy, as well as H&M, Trony, Decathlon, Deichmann, New Yorker, Maison du Monde and Jack & Jones.

'The acquisition of Le Maioliche centre is in line with our strategy to focus on investments with highly visible returns: the real estate complex we just acquired is, in fact, completely rented out and in the first few months of operation has provided encouraging figures in terms of traffic,' CEO Claudio Albertini said.

Listed on the Milan stock exchange, IGD Siiq has a portfolio valued at some EUR 1.5 bn mostly comprising retail assets in the Italian and Romanian real estate markets.