LAWFUEL – Law News Network – The Milan office of international legal practice Norton Rose has advised Corio Italia S.r.l. on the purchase from Mercurio of Globo 2, part of a large shopping centre named Globo, for € 41.2 million. Globo is a shopping centre of approximately 40,000 m² located between the cities of Milan and Bergamo. Globo 2 is one of the extensions of approximately 9,600 m² to Globo 1, which was acquired by Corio in December 2004. With this investment Corio increases its interest in a shopping centre that is dominant in its catchment area.
The Norton Rose team working on this transaction was led by partner Nicolò Juvara, assisted by Andrea Sassi and Rocco Santarelli.
Nicolò Juvara, leader of Norton Rose’s Italy-based real estate team, said:
“Italy’s shopping centre development continues to thrive. In recent years Italy has been attracting the attention of retail real estate developers and investors from around Europe and North America. Our domestic real estate team has been following these developments and has acquired a significant expertise and reputation for top-quality work in the area of real estate finance and development.”