Multi announces the acquisition of Palmanova Outlet Village, high-quality outlet center located between Trieste and Venice.The village opened in 2008 and housing more than 90 stores and and cafes on 22,000 m2. List of retailers including Calvin Klein, Adidas, Nike, Guess and Tommy Hilfiger.
Palmanova Outlet Village generates approximately three million customer visits per year.
Paolo Bottelli, Chairman of Multi Italy: “With the acquisition of Palmanova Outlet Village, we have strengthened our position as a leading owner of factory outlet centres in Italy. This unique asset provides a compelling opportunity to further upgrade the retail offering for both our local customers and tourists.”
The acquisition was made by Blackstone Real Estate Partners Europe IV. Now Blackstone owns a portfolio of five upmarket factory outlet centres throughout Italy, located in Lombardy, Tuscany, the Venice region and Puglia. The platform, one of the largest in Italy, totals 150,000 m2 with approximately 650 shops, and welcomes 15 million visitors a year. Annual sales across the platform are close to € 400 million.