Kryalos SGR's Urania Fund acquires Italian shopping centre

Italian independent asset manager Kryalos SGR, via its Urania Fund, has acquired the Poseidon Shopping Centre.

Poseidon Shopping Centre, Palermo

This retail property is situated in Carini, near Palermo, Sicily, Italy.

Opened in 2010, the Poseidon Shopping Centre spans approximately 26,000 m2  of GLA (Gross Leasable Area) and features over 75 retail stores. Key tenants include Decathlon and a Decò hypermarket, which covers about 7,200 m2 as a food anchor. The centre benefits from a diverse mix of tenants and serves a well-established customer base, making it a premier shopping and service destination in the Palermo metropolitan area.

This acquisition aligns with the Urania Fund's strategy to strengthen its retail portfolio by adding income-generating assets that have strong operational foundations and potential for future expansion.

Coinciding with the acquisition, Kryalos SGR also completed the refinancing of the Urania Fund. UniCredit provided a total loan of €107.5 mln for this refinancing.

Gianluca Vairani, senior managing director of Transaction Management at Kryalos SGR, commented: "This transaction represents an important step in the Urania Fund's investment strategy, strengthening its portfolio with a high-quality, well-positioned, and proven retail asset. The acquisition of Poseidon, together with the refinancing concluded with UniCredit, confirms Kryalos' ability to structure complex transactions and create value through active investment management."