Commerz Real has sold its Orio Center south of Bergamo and the adjacent NH Hotel. The center will go to a joint venture between a pan-European fund of Generali Real Estate and the local project developer Percassi Group and the hotel only to the Percassi Group.
Commerz Real acquired the Orio Center, built in 1998, in 2000 for the open-ended real estate fund Hausinvest and then added various expansions and the hotel built in 2008 to the portfolio in the following years. The center currently comprises 67,700 square meters of rental space with around 250 shops and is almost fully let. The adjacent hotel has 118 rooms. Located three kilometers south of Bergamo, the Orio Center and the hotel are characterized by the direct connection to the A4, Italy’s busiest motorway, as well as by the immediate vicinity of Bergamo Airport.
