The joint venture has been created by two professionals specialized in the management of shopping centers. The launch of a first fund is planned during the middle of 2019.
Generali is committed to shopping centers. The group launches Axis Retail Partners, a new investment vehicle focused on the purchase of shopping centers. The company will invest 500 million euros in this project, with a 51% stake, which will also be opened to other investors.
The joint venture has been created by Florencio Beccar and Toby Smith, two professionals specialized in the selection and management of shopping centers. The launch of a first fund, Generali Shopping Center, whose portfolio management will be delegated to Generali Real Estate, is scheduled for the second quarter of 2019 , once the authorization process has been completed.
The fund will invest in high quality shopping centers throughout Europe, expecting an annual return of 7%. The launch of this vehicle is in line with Generali’s strategy of increasing investment in the real estate sector.