CBRE Italy Advise On The Sale Of Palmanova Outlet Village For €80 Million

CBRE Italy’s Retail Capital Markets team has advised a pool of investors on the sale of Palmanova Outlet Village for over €80 million to a group of real estate funds managed by Blackstone Group.

Palmanova Outlet Village is located in Aiello del Friuli in a strategic location near four major cities - Udine, Pordenone, Trieste and Gorizia - and benefits from excellent visibility on the Turin-Trieste highway. The proximity to the Adriatic Sea is key for the outlet, with tourists representing over a third of the area’s total visitors.

Completed in a single phase, Palmanova Outlet Village was opened in May 2008. The Outlet consists of 92 stores and is approximately 22,200 sq m in size. The outlet offers a wide mix of national and international brands including Calvin Klein Jeans, Guess, Pollini, Baldinini, Nike and Puma.

Silvia Gandellini, Head of European Retail Capital Markets, CBRE, Italy commented:

"The fantastic location, size and large tourist trade ensured that Palmanova Outlet Village attracted a lot of interest from international investors. This is a trend we have seen throughout the first half of the year as Italy becomes an increasingly attractive market.”