Retail property specialist Corio is acquiring an Ikea store in Turin in order to redevelop it to add value to Corio's adjacent Le Gru shopping centre. Under the agreement with Ikea, the furniture retailer will lease the Ikea unit back until a new store in Collegno slated for May 2009 is completed and delivered.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
