French listed asset manager Tikehau Capital has acquired Area 12, a 30,000m2 shopping center located within the Juventus Stadium.
The stadium, which will be renamed Allianz Stadium as from 1 July 2017, is home to famous Italian football team Juventus Turin.
The transaction has amounted to around €65m and has been made alongside Italian and international institutional investors.
Nordiconad, part of Italian supermarket chain Conad, remains the majority shareholder of the hypermarket area of the shopping center and will work with Tikehau Capital to further develop the complex, which sees an annual average of 4.5 million visitors.
Tikehau Capital’s real estate portfolio has reached a value of €1.8bn. The acquisition of Area12 forms the second real estate retail transaction in Italy, after the purchase of “I Petali” Shopping Centre in the Mapei Stadium in Reggio Emilia last year.
Tikehau Capital manages €10.3bn of assets.