Kryalos acquires the Poseidon shopping centre in Palermo for 56 million

Kryalos Sgr has completed, on behalf of the Urania Fund, the acquisition of the Poseidon shopping centre, a retail asset situated in Carini (Palermo). Opened in 2010, it covers a total gross floor area of approximately 26,000 square metres and houses over 75 retail units, including a Decathlon and a food anchor tenant in the form of the Decò hypermarket, covering approximately 7,200 square metres. According to reports, the value of the transaction is approximately 56 million euros.

The transaction forms part of the Urania Fund’s strategy aimed at consolidating its retail portfolio through the acquisition of income-generating assets with sound operational fundamentals and potential for further appreciation. At the same time as the transaction was finalised, Kryalos Sgr completed the refinancing of the Urania Fund through a total loan of 107.5 million, granted by UniCredit.

“The transaction strengthens the portfolio with a high-quality retail asset,” said Gianluca Vairani, Senior Managing Director of Transaction Management and Head of ESG at Kryalos Sgr. “ “The acquisition of Poseidon and the refinancing with UniCredit confirm our ability to structure complex transactions and create value through active management.”